Renowned Bitcoin bull Samson Mow has presented six potential catalysts that could lead Bitcoin's price to reach $1 million. From supply shocks to state strategies, each of these causes could result in significant market changes.
Supply Shock and Strategic Reserves
The first factor that could drive Bitcoin's price up is a supply shock. If institutional players like MicroStrategy and ETF issuers continue to buy aggressively, the available supply of Bitcoin could dry up, causing the price to rise. Another potential factor is the creation of Strategic Bitcoin Reserves at the state level. The possibility of governments holding BTC as a reserve asset could alter the approach towards cryptocurrencies.
State-Level Strategies Implementation
A rebasement of the US dollar to satoshis and the establishment of US federal Strategic Bitcoin Reserves could change the current financial system. Although these changes may seem radical, they are possible if the current system reaches its limits. Additionally, country-level FOMO might force nations to start stacking BTC to avoid being left behind.
Dollar Reevaluation and Gold Replacement
The shift from gold to Bitcoin as a reserve asset is another potential for significant BTC growth. If gold begins to lose its monetary role in favor of Bitcoin, it could lead to a major shift in liquidity. Samson Mow also highlights the possibility of a new trend among countries, especially in Asia, with active adoption of crypto strategies.
While these scenarios might seem bold, the realization of one or more of them could dramatically alter the financial market. Samson Mow emphasizes that even one of these causes could lead to significant changes in Bitcoin's value, and further developments in this direction are worth watching.
