Crucial Bitcoin Value Statement Released by Samson Mow Based on This Metric

Samson Mow, CEO of JAN3 and a prominent supporter of Bitcoin, has made significant remarks regarding the current valuation of BTC. This commentary comes as Bitcoin, the largest cryptocurrency, recently recovered to the $63,000 mark overnight before dropping again. In the past 24 hours, the price of Bitcoin fluctuated between $61,825 to $63,600, reflecting an almost 3% increase. Currently, Bitcoin is priced at approximately $62,710.

### Samson Mow’s Insights on BTC

Mow, a Bitcoin maximalist and advocate for its adoption, took to social media to share his perspective on BTC’s value, emphasizing his own analytical framework. He referenced what he calls “Omega Law,” expressing his belief that Bitcoin is significantly undervalued at the moment. Mow anticipates the occurrence of “Omega candles,” which he believes could propel Bitcoin to $1 million in a relatively short time frame, suggesting this could happen within the next year or two.

In a recent interview, Mow stated that even if Bitcoin does not reach the $1 million mark in 2024 or 2025, he feels the timeline is still quite close. His optimism stems from the continuous accumulation of Bitcoin by spot Bitcoin ETFs, which began gaining traction after receiving SEC approval in mid-January.

Key players in the market, such as BlackRock, Fidelity, VanEck, and Grayscale, have contributed to this uptick in demand, leading to what Mow describes as a “Bitcoin demand shock.” Additionally, the fourth halving of Bitcoin, which took place on April 20, has led to a supply shock. Mow suggests that once these two dynamics converge, Bitcoin’s value could soar beyond $1 million.

Over the weekend, Mow addressed the Bitcoin sales currently taking place, expressing confidence that the market will be able to absorb all of this selling activity.

### ETFs Awaiting Approval

Several of the same companies that lobbied for Bitcoin ETFs have also filed applications for spot Ethereum exchange-traded funds. While the SEC granted its first approval at the end of May, a final decision is anticipated soon. The crypto community is keenly watching these developments, reminiscent of the excitement surrounding the approval of Bitcoin ETF trading.

Mow’s bullish outlook on Bitcoin and the implications of recent market dynamics highlight a particularly transformative period for cryptocurrency investors.