Spot Bitcoin ETF approval to propel BTC to $1M in ‘days to weeks,’ says Samson Mow

Bitcoin (BTC) is likely to reach $1 million in the “days to weeks” following the approval of a spot BTC exchange-traded fund (ETF), according to JAN3 CEO Samson Mow. 

“You’re hitting a very limited supply of Bitcoin on the exchanges and available for purchase with a torrent of money,” Mow said, referring to the inflow of institutional capital that is expected following a potential spot ETF approval. 

“This is why you can go really high all at one time,” he adds.

Commenting on a similar $1 million-per-Bitcoin prediction by entrepreneur Balaji Srinivasan, Mow said that the impact of a spot Bitcoin ETF approval on prices will play out much faster than central bank money…

Read more on Cointelegraph

39.2K Reads