Samson Mow, a prominent figure in the cryptocurrency industry and CEO of JAN3, has made a bold prediction about the future of Bitcoin's price. Mow, known for his bullish stance on Bitcoin, believes that the question is not if, but when Bitcoin will hit the milestone of $1 million. His prediction is based on the current supply and demand dynamics of Bitcoin, emphasizing that the demand for the cryptocurrency far exceeds its available supply.

Mow's company, JAN3, is dedicated to accelerating Bitcoin adoption through infrastructure development and financial services. His predictions are rooted in the current market trends, highlighting the role of spot Bitcoin ETFs in driving demand. These financial instruments allow investors to access Bitcoin without directly owning the asset through traditional markets. Current data shows that Bitcoin ETFs hold more than one million Bitcoin, approximately 5% of the total circulating supply.

Another key factor Mow points to is the substantial inflow of Bitcoin into exchanges, indicating robust demand. Even if his main theory does not prove to be accurate, Mow notes the importance of the 'Veblen effect' in the case of Bitcoin. The Veblen effect is a phenomenon where the demand for a commodity increases as its price increases, contrary to standard economic theory. This effect suggests that rising prices can spark interest and investment in Bitcoin.

At present, the price of Bitcoin is around $68,000, a slight decline of more than 0.6% since the beginning of the day. Despite this decline, the cryptocurrency is still close to its all-time high of $74,000. Mow's prediction may seem ambitious, but his analysis is rooted in the current market trends and the strong demand for Bitcoin.

In conclusion, Samson Mow's prediction of Bitcoin's price reaching $1 million is based on the current supply and demand dynamics of the cryptocurrency. His analysis highlights the role of spot Bitcoin ETFs and the substantial inflow of Bitcoin into exchanges as indicators of robust demand. While the prediction may seem ambitious, it is rooted in the current market trends and the strong demand for Bitcoin