Bitcoin (BTC) maxi and CEO at BTC-focused company JAN3, has expressed his take on the current level of Bitcoin literacy in the world
Samson Mow, Bitcoin maxi and CEO at BTC-focused company JAN3, has expressed his take on the current level of Bitcoin literacy in the world and also shared why digital gold can hardly reach $10 million per coin at the moment.
During a recent interview, Mow stated that people are still generally illiterate in terms of Bitcoin, adding that he had met a "handful" of people who he would class as literate.
"I can count on one hand the people I’ve met who are truly Bitcoin literate. We’re still in the early stages of this revolution. The narrative is still unfolding. The world is slowly waking up to the importance of Bitcoin. It's a slow process, but we're making progress," Mow said.
At the moment, he believes that digital gold has hit a "stall" on its way up, which is why it can't rise to $10 million. However, Mow is a persistent believer that Bitcoin is likely to reach $1 million in the near future. He has been predicting this over the past few years, doubling down on his ultra-bullish predictions in January last year, when the SEC finally approved the launch of spot Bitcoin ETFs.
The entities that launched them (BlackRock (NYSE:BLK), Fidelity, Bitwise, Grayscale, etc.) started accumulating large amounts of BTC on a daily basis to back shares of their ETFs. Mow then stated that that aggressive accumulation would bring on a Bitcoin demand shock. He expected the Bitcoin halving that was then due on April 20 to create a Bitcoin supply shock. Once these two shocks clashed, he tweeted, Bitcoin would print an Omega candle and BTC would skyrocket to $1 million soon enough.
Still, Mow was not the first to name $10 million as the price Bitcoin may reach in the future. A similar statement was made by Strategy founder and executive chairman Michael Saylor, who predicted last year that by 2035, BTC would have taken away part of gold’s market share and would skyrocket to $10 million per one coin. Strategy continues to accumulate BTC, raising funds for these buys by issuing debt and selling it to investors.
This year, the company has already bought cryptocurrency for a total of $3 billion. Most recently, Strategy bought 7,824 Bitcoins for $844 million, according to the statement. The purchase was made in the price range of $107,768 to $108,800 per one Bitcoin. After this major addition, Strategy now holds 580,250 Bitcoins, which is equal to $63,685,860,975.
BTC is currently changing hands at $109,830. Roughly a week ago, the largest cryptocurrency soared to an all-time high, reaching $111,970.
