Samson Mow, CEO of Jan3 and a long-time Bitcoin advocate, has ignited discussions within the cryptocurrency community with an ultra-bullish statement regarding Bitcoin's long-term price potential. On Saturday, January 17, Mow took to X (formerly Twitter) to declare that the common analyst projection of a 10x gain for Bitcoin is a "conservative" estimate.
Mow argued that many market participants are still underestimating Bitcoin's future price prospects, suggesting that confining projections to modest gains misses the bigger picture. While he did not provide a specific new price target, his statement implies expectations for gains significantly exceeding a tenfold increase.
Mow's confidence is rooted in several fundamental factors supporting Bitcoin's value proposition. He cites Bitcoin's fixed supply, rising institutional participation, consistent accumulation by large treasury firms, and the steady inflows into spot Bitcoin ETFs. Furthermore, he emphasizes that Bitcoin's new supply issuance continues to shrink after each halving event, guaranteeing increasing scarcity for the leading cryptocurrency.
Mow has expressed continued confidence that demand for Bitcoin does not need to explode for prices to surge significantly higher over time. This bullish outlook comes despite Bitcoin currently trading in negative territory, showing a mild decline of 0.56% over the last day amid a broader crypto market drawdown.
