In a recent interview, Samson Mow shared an optimistic price prediction for Bitcoin, claiming it might reach $1 million in the coming months.
The $1 Million Bitcoin Scenario Explained
Mow's prediction relies on a sudden and steep increase, rather than a gradual rise. He describes the rise as a 'brief and fierce surge' that might push Bitcoin's value to $1 million.
'*They don’t gradually fail, they fail spectacularly*', said Mow, referencing fiat currencies, indicating the increasing global economic turmoil. With inflation eroding faith in traditional currency, Bitcoin's decentralized features position it as a refuge, placing its worth at unmatched levels.
Hyperbitcoinization: Governments Quietly Joining In
Mow believes governments are already preparing for this shift. One example he provided is Bhutan, which has been mining Bitcoin since 2019. Today, its Bitcoin holdings are reportedly worth close to one trillion dollars — a signal, he says, that hyperbitcoinization is underway.
'Violent upheaval is the most likely scenario.'
Bitcoin Bonds Could Redefine Sovereign Debt
Mow also envisions a future where governments begin issuing Bitcoin-backed sovereign debt. This could create a new market for global Bitcoin Bonds.
He pointed to MicroStrategy CEO Michael Saylor, whose company has successfully raised funds using Bitcoin. This strategy, Mow stated, could soon be adopted by nations.
'*It’s simply a matter of time before every country pulls that trigger*', asserted Mow. If that happens, Bitcoin's demand and price could rise sharply, pushing it towards the $1 million mark.
With growing global uncertainty and more governments exploring Bitcoin, Mow's vision of hyperbitcoinization may soon come to fruition. If countries begin to use Bitcoin to back their reserves or issue debt, the cryptocurrency could shift from being merely an investment to becoming a core element of the global economy.
