Key Takeaways
- Samson Mow predicts major volatility once Bitcoin hits $100K.
- He envisions hyperbitcoinization replacing fiat currencies.
- Institutional players like MicroStrategy are driving Bitcoin's growth.
As Bitcoin nears the pivotal $100,000 milestone, the financial world is buzzing with speculation.
Samson Mow, CEO of JAN3 and a prominent Bitcoin advocate, shared his insights in an exclusive interview with Cointelegraph, predicting a seismic shift once Bitcoin surpasses this landmark.
Mow stated:
Post $100K, that’s when things start to heat up and accelerate.
He foresees unprecedented volatility, with daily price movements of up to $10,000, eventually escalating to $100,000 increments, which are what he dubs the “Omega candles.”
Diminishing returns
Mow ties this anticipated growth to diminishing confidence in traditional financial systems.
He emphasizes hyperbitcoinization, where Bitcoin fully replaces fiat currencies, as a future inevitability:
It’s the point at which we no longer need to convert Bitcoin back to fiat currencies. Most importantly, everyone only wants Bitcoin.
Urgency
The looming $36 trillion U.S. national debt underscores the urgency of this shift, according to Mow.
He noted how inflation has skyrocketed over decades, highlighting the rising costs of everyday goods as a stark reminder of economic instability.
Institutional involvement
Institutional involvement is also a key factor. Mow cited companies like MicroStrategy for fueling Bitcoin’s momentum:
They add gasoline on that fire by creating this Bitcoin reactor, converting corporate debt and equity into Bitcoin at much higher multiples in the future.
With Bitcoin closing in on this historic threshold, Mow’s predictions paint a picture of rapid acceleration and significant change in the global financial landscape.
