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1M per Bitcoin in 2024?
1012 sats \ 26 comments \ @bitties 19 May bitcoin_beginners

BITCOIN HITS $1 MILLION IN 2024?

We’re going to see a $1 million Bitcoin. This year.
That’s the prediction out from Samson Mow.
Samson Mow is a renowned Bitcoiner and Entrepreneur.
He’s the CEO of JAN3, a Bitcoin focused company aiming to speed up the adoption of Bitcoin.
In his latest interview, Samson broke down why he thinks we’ll see Bitcoin hit $1 million per coin.
By the end of 2024.
“I think we’re going to see a million this year… 2024.”
Samson believes Bitcoin's price has been suppressed for years. It should’ve already hit $100,000.
“I think the Bitcoin price has been suppressed for a very long time. We should’ve hit $100k a few years ago. But if you look at the amount of fraud that was perpetrated by FTX and other companies - that’s what stole $100k from Bitcoin in 2021.”
Samson argues the effects of FTX & other bad actors are still felt in the Bitcoin price today.
But - it’s coming to an end.
“It’s very clear, if you’re looking carefully, that there’s a massive amount of demand that’s increasing constantly from the ETFs. That will outpace any of the untangling of fraudulent activities.”
Combine the increased demand of the Bitcoin ETFs with the supply reduction from the April halving?
A $1 million Bitcoin is no longer a pipe dream.
“Given all of that and given we’ve effectively almost reached the previous all-time highs pre-halving, I don’t see it being impossible that we see $1 million this year.”
A $1 million dollar Bitcoin by the end of this year is a touch too optimistic.
But - do we see prices significantly higher by the end of 2024?
Without a doubt.
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61 sats \ 1 reply \ @grayruby 19 May
We will surpass 1M at some point but I don’t think it will be for many years to come unless something catastrophic happens to fiat. But I think they can kick the can down the road a lot longer than most people think.
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50 sats \ 0 replies \ @carlosfandango 20 May
Agreed. They can perpetuate the system far longer than people, and especially some bitcoiners, realise or believe.
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192 sats \ 4 replies \ @rizzling 19 May
guys calm down ^^ I can tell you first hand, that we (samson and others in our team, mix of blockstream and jan3 guys) spread those opinions with a purpose even if we know that its impossible to foresee the exact prices of the future. I would call it a part of our psyops :D
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32 sats \ 1 reply \ @bitties OP 19 May
I don’t doubt this at all. Haha.
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21 sats \ 0 replies \ @rizzling 19 May
great :D !
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10 sats \ 1 reply \ @Car 20 May
it's so they can dump on the plebs at 100k lol
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21 sats \ 0 replies \ @rizzling 20 May
wrong.
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106 sats \ 0 replies \ @Satosora 19 May
no way...unless we have hyperinflation. 1 million wont mean anything anyway then.
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91 sats \ 2 replies \ @Undisciplined 19 May
I wrote previously #474759 about how I do think $1M is a reasonable valuation for Bitcoin, but I don't see it happening this year.
I also want to offer a correction about bitcoin supply. The supply did not reduce after the halving. The new supply decreased but, since bitcoin is a durable good, that just means the rate of supply increase declined.
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31 sats \ 1 reply \ @bitties OP 19 May
I knew you guys would catch that! I saw it after edit period. Thank you sir.
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61 sats \ 0 replies \ @Undisciplined 19 May
It's not a big deal, but I see so many people make that mistake that I've taken it upon myself to not let it slide.
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70 sats \ 2 replies \ @famisbtc 19 May
Where is the limit in an asset that you measure against a highly inflationary currency?
From my point of view, Bitcoin will be constantly increasing in the long term due to the fraud that fiat represents. That's why I believe it's necessary to try to stop focusing too much on the chart and simply accumulate sats little by little, as much as possible.
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10 sats \ 1 reply \ @bitties OP 19 May
I do both, I love me some charts. XD
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20 sats \ 0 replies \ @famisbtc 19 May
I understand you! haha
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119 sats \ 0 replies \ @cristaiji 19 May
I doubt it will do 1 mil this year. Tbh I’d be surprised if it did it in 2025 although by 2030 I think it’s quite possible.
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41 sats \ 0 replies \ @398ja 19 May
Bitcoin to hit 1M$ makes good headlines. :)
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41 sats \ 0 replies \ @elvismercury 19 May
Samson has his own bags, just like everyone.
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41 sats \ 0 replies \ @ContraMundum 19 May
Skeptical with this economy. I’d say $100,000 is more likely.
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34 sats \ 3 replies \ @Undergotten 19 May
Lol. Might be a little ambitious.
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20 sats \ 2 replies \ @famisbtc 19 May
I think it depends on your time horizon and where you believe the future is headed. In the long term, if fiat currencies continue to lose value, I think it's a scenario that is at least likely.
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14 sats \ 1 reply \ @Undergotten 20 May
Well, no it doesn't, in this particular conversation. If you'll look again I think you'll see that the time for this specific scenario was very clearly outlined right there in the title. And then again in the header. In bold.
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5 sats \ 0 replies \ @famisbtc 20 May
You're right! A VERY ambitious goal! 😄
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40 sats \ 0 replies \ @riberet19 19 May
it seems to me that people sometimes throw out random predictions, that the price may be suppressed can be true, but 1 million per coin for this year is too much, it would have to multiply by 16 or so its market cap, and there is a lot of money in Bitcoin right now, but very little if we compare it to other assets, but I think it's too early for that money to come in droves.
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40 sats \ 1 reply \ @frostdragon 19 May
posts about NGU really bring out my inner toxic maxi. 1 BTC = 1 BTC.
although I do get excited when it goes on sale...
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21 sats \ 0 replies \ @bitties OP 19 May
Well, you are right. It’s probably best you say it, considering the territory.
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0 sats \ 0 replies \ @Bell_curve 15 Jun
84 000 dollars
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