Bitcoin advocate and CEO of JAN3, Samson Mow, asserts that Bitcoin’s unique characteristics will lead to its dominance in a future where most other assets fail to withstand the test. He emphasizes that Bitcoin’s scarcity is fundamental to its growth, highlighting the fixed supply of 21 million coins with over 19 million already mined. This limited supply makes it increasingly scarce and valuable in comparison to alternatives like gold or fiat currencies. Mow’s statement comes at a time when other assets are experiencing declines in value, suggesting Bitcoin as an ideal alternative, as suggested by prominent figures like Max Keiser, who advocates for its long-term dominance.
Several factors support Mow’s prediction of Bitcoin’s enduring strength: the inherent scarcity of Bitcoin, its consistently outperforming returns, ease of use compared to traditional assets and investment options, and increasing demand from governments, institutions, and individual investors. Mow believes that with continued adoption, Bitcoin’s price might even reach $1 million per coin in the future.
The recent peak and subsequent pullback of Bitcoin’s price point, despite market expectations for rate cuts by the Federal Reserve, further reinforces Mow’s bullish sentiment on Bitcoin’s long-term potential.