U.Today – Many may have succumbed to extreme fear regarding the potential of (BTC), but for Samson Mow, the sentiment remains absolutely bullish. Bitcoin’s price action of late has tested the resolve of many hardcore proponents. However, with Samson Mow, the downtrend remains a setup for a major rally in the future.
Samson Mow's prediction
Samson Mow, on his favorite social media platform, X, noted that “everything is accelerating” at a rapid pace. Specifically, he pointed to the growing adoption of Bitcoin and the falling valuation of fiat currency as two key factors that will drive growth, but which many people are choosing not to see.
Samson Mow’s defense of Bitcoin is not disingenuous. It is worth noting that the Bitcoin spot ETF market has played a crucial role in shaping the supply of the coin. Recently, the sell-off in Germany and the bearish sentiment following the redistribution of Bitcoin from Mt. Gox drove the price of BTC to a low of $53,717.38 over the past month.
While many choose to focus on the negative impact of these sell-offs, Mow believes that the accumulation of Bitcoin ETF products is adequately countering the impact. With his projections, he has maintained his stance that the coin will reach a total price of $1 million.
Bitcoin's legacy under control
Beyond the transfer of value, Bitcoin has created a whole new legacy that many Wall Street firms are trying to align themselves with. The launch of Bitcoin spot ETFs is one such legacy, as investors can now gain unrestricted access to the currency without the risks that come with physically managing BTC.
MicroStrategy is also helping to drive the coin’s reality check with steady accumulation in a mutually beneficial setup for its stock price. The company recently initiated a 10-for-1 stock split, underscoring how the coin has fueled its growth since 2020.
This article was originally published on U.Today
