Since the Bitcoin (BTC) price hit nearly $74,000 during the March bull rally, many crypto enthusiasts have wondered whether and when it would reach $100,000 a coin or even the ambitious $1,000,000 mark.
One of the crypto industry’s renowned pundits insists Bitcoin will likely surpass $1 million within one year. In his latest post on the X platform, ex-Blockstream executive Samson Mow doubled down on his sky-high price prediction for Bitcoin.
Bitcoin On Its Way To $1 Million
Jan3 CEO Samson Mow believes that Bitcoin will go as high as $1 million in the space of a year.
Mow posited in an X post that “Bitcoin is going to $1.03 million,” adding that he is “not uncertain”. Responding to a comment, the Bitcoin bull indicated his belief that the preeminent cryptocurrency is likely to skyrocket to these levels within one year.
Mow also commented on the gargantuan transfers made by the defunct Mt. Gox crypto exchange earlier today. The Rehabilitation Trustee for Mt. Gox sent nearly $3 billion worth of Bitcoin as part of its creditor repayment plan, sending the price of BTC below $63,000.
“I doubt more than 20% of Gox coins are going to come to market,” Mow posited.
As for the other 80%, Mow thinks it will either be transferred to cold storage wallets or locked in financial apps as creditors will potentially borrow against their Bitcoin holdings. However, he is convinced that 100% of the Bitcoin Cash (BCH) reimbursed to creditors of Mt. Gox will be offloaded by the recipients.
Earlier this week, the ardent Bitcoin supporter proclaimed that Bitcoin will never go below the $60,000 mark again. The alpha crypto has recently started rebounding after the latest market pullback kindled by the German state of Saxony as it liquidated 50,000 BTC seized from a privacy website.
While a $1 million price tag seems like a stretch from Bitcoin’s current price of $64,838, other big names in the industry have voiced similar outlooks. Ark Invest founder and CEO Cathie Wood has even taken it a notch further, predicting that the OG crypto will reach $1.5 million by 2030. That said, whether Bitcoin hits $1 million in a year’s time as Mow anticipates remains to be seen.
