Bitcoin Could Hit $1 Million in Days to Weeks After Spot ETF Approval
Bitcoin (BTC) has the potential to skyrocket to $1 million within a matter of days to weeks following the approval of a spot Bitcoin exchange-traded fund (ETF).
According to Samson Mow, CEO of Jan3, the combination of limited Bitcoin supply on exchanges and a surge of institutional investment will drive the price to unprecedented levels in a remarkably short period of time.
“You’re hitting a very limited supply of Bitcoin on the exchanges and available for purchase with a torrent of money,” he said in a recent interview.
“This is why you can go really high all at one time.”
Mow highlighted the inflow of institutional capital that is expected to accompany the approval of a spot ETF, stating that there will be a torrent of money seeking to purchase the limited available Bitcoin on exchanges.
Bitcoin (BTC) has the potential to skyrocket to $1 million within a matter of days to weeks following the approval of a spot Bitcoin exchange-traded fund (ETF).
According to Samson Mow, CEO of Jan3, the combination of limited Bitcoin supply on exchanges and a surge of institutional investment will drive the price to unprecedented levels in a remarkably short period of time.
“You’re hitting a very limited supply of Bitcoin on the exchanges and available for purchase with a torrent of money,” he said in a recent interview.
“This is why you can go really high all at one time.”
Mow highlighted the inflow of institutional capital that is expected to accompany the approval of a spot ETF, stating that there will be a torrent of money seeking to purchase the limited available Bitcoin on exchanges.