Cryptocurrency veteran Samson Mow reiterated his belief in Bitcoin’s (CRYPTO: BTC) potential to hit $1 million per coin Sunday, as the leading cryptocurrency continued to break records.
What Happened: Mow, CEO of Bitcoin technology company JAN3, wrote on X, “I know Bitcoin is going to add a zero. You know Bitcoin is going to add a zero. It’s just a question of when.”
A vocal advocate of the $2.3 trillion asset, Mow also hinted at an accelerating “race” among investors to accumulate BTC, while some, such as Peter Schiff, insist on “hopping backwards.”
See Also: Bitcoin’s All-Time High Break Means Volatility Could Soon Return: Report
Why It Matters: This isn’t the first time Mow has made such a bold prediction. Earlier in March, he projected that Bitcoin would hit the $1 million mark “very soon.” His forecast was based on a combination of high demand and an impending reduction in Bitcoin's supply.
Bitcoin is in the middle of a record-breaking rally, surging about 10% over the last week, thanks to a combination of massive institutional inflows and adoption by Bitcoin treasury companies.
However, Schiff, a renowned economist who advocates for precious metals such as gold and silver, tried to downplay its advances, stating that the current momentum is speculative and unsustainable.
Price Action: At the time of writing, Bitcoin was exchanging hands at $119,828.07, up 1.96% in the last 24 hours, according to data from Benzinga Pro.
Photo Courtesy: Rido on Shutterstock.com
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
