Popular Bitcoin advocate and CEO of Jan3 Samson Mow has once again predicted that Bitcoin could hit $1 million, drawing on a recent shift in the market. While responding to the White House official X account promoting Bitcoin, he revealed this on his X account.
The Samson Mow Prediction and Rationale
According to Samson, Bitcoin will reach $1 million much faster than expected. In the past, Mow has popularized the idea that he projects the token’s $1 million milestone by 2031. However, he is changing his position now, as President Donald Trump’s executive orders are rapidly evolving the US crypto ecosystem.
Speaking on the above, Mow pointed to increased government backing as a major factor. He stated that the conditions for a price surge are aligning with the White House’s current pro-crypto and Bitcoin stance.
Meanwhile, an X user reacted to Mow’s comments that $1 million by 2031 is conservative. Still, Mow believes that the rate at which everything is happening is fast, which might bring BTC’s price closer to the mark soon.
White House Influence on Bitcoin and Regulation
It is worth mentioning that one major factor pushing the current Bitcoin optimism is the recent support from the White House. For context, at the first-ever White House Crypto Summit, President Donald Trump declared his commitment to making the U.S. a global leader in cryptocurrency.
Once things are certain in the global cryptocurrency community, America will become more welcoming to crypto businesses and Web3 entities. This is unlike the previous administration, which was more restrictive in its approach to managing digital assets.
During the Crypto Summit, industry leaders praised Trump for reversing regulatory crackdowns on crypto firms. The SEC has since closed several legal actions against major crypto firms, proof of its enforcement pivot.
Additionally, Trump signed an executive order establishing a Strategic Bitcoin Reserve. This means the U.S. government will HODL its Bitcoin holdings instead of selling them.
The order also allow the Treasury Department to explore ways to acquire more Bitcoin, which was considered a sign of the government’s long-term commitment to the asset.
Current Bitcoin Outlook and Key Catalyst
Since the beginning of the month, BTC’s price has hovered between $80,000 and $90,000, despite the increasing demand from institutional investors.
With adoption, especially through spot Bitcoin ETFs, growing globally, more businesses and nations are warming up to BTC. This is why market experts like Samson Mow believe the U.S. government’s latest position could encourage other countries to follow the trend. If achieved, this could further accelerate Bitcoin’s growth.
At the time of writing, Bitcoin price was changing hands for $85,093, down by 0.69% in 24 hours.
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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