Spot Bitcoin ETF License to Push BTC to $1M in ‘Days to Weeks’, Says Samson Mou
According to JAN3 CEO Samson Mou, Bitcoin (BTC) could reach $1 million in “days to weeks” following the approval of the spot BTC exchange-traded fund (ETF).
“You're hitting a very limited supply of bitcoin on the exchanges and there's a flood of money available for purchase,” Mou said, referring to the expected inflow of institutional capital following the ETF's approval.
“That's why you can go so high at once,” he added.
Commenting on the same $1 million Bitcoin forecast by entrepreneur Balaji Srinivasan, Mow said the impact of Bitcoin ETF adoption on prices will play out faster than central bank money printing.
“Printing money is like slowly boiling water,” he explained. “This will take years to permeate the economy.”
Unlike previous rallies that took Bitcoin to new highs in a matter of months, Mou said the post-ETF rally to $1 million will be much faster.
“The run in 2017 was nine months to 20X,” he recalls.
“With billions and billions of funds pouring in at once on ETF approvals, I think it's going to be very short-lived,” Mow said.
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