Samson Mow, CEO of JAN3, has doubled down on his earlier prediction of bitcoin reaching $1 million in weeks to months. Mow states that the U.S. debt cannot be repaid, and one of the best decisions to deal with it is rebasing the price of the U.S. dollar to bitcoin.
JAN3 CEO Samson Mow: The U.S. Dollar Will Have to Rebase to Bitcoin
Bitcoin’s irruption in U.S. financial state policy has experts making conjectures about the digital assets’ future price increases. Samson Mow, CEO of JAN3, a company that promotes bitcoin’s adoption at a nation-state level, has recently stated that bitcoin might get to $1 million in weeks or months as the U.S. debt scenario explodes, doubling down on his earlier predictions.
Read more: Samson Mow Doubles Down on $1 Million Bitcoin Price Prediction
Mow stated that bitcoin at $100K was undervalued, detailing that it was still an anomaly that BTC traded below this number even with the recent explosive price increases. Mow detailed that the exchange-traded funds (ETFs) greenlighted by the U.S. Securities and Exchange Commission (SEC), which have brought billions to the crypto industry, should have been sufficient to take bitcoin at least over $100,000.
However, Mow still believes that bitcoin will reach $1 million as soon as macroeconomic elements align for this to happen. He details the U.S. public debt as the main catalyst of such a rise, as bitcoin will have a special place in an upcoming solution.
Mow declared:
Interest payments are getting to $1 trillion a year and I don’t think most people realize but these are astronomical numbers and these are absolutely unsustainable.
President-Elect Donald Trump has recognized the relevance of cryptocurrency, having supported bitcoin-linked initiatives. There is already a regulatory proposal to introduce a national strategic bitcoin reserve, Cynthia Lummis’ BITCOIN Act. Mow forecasts that a solution for this problem includes rebasing the U.S. dollar to a stronger, more solid currency like bitcoin, allowing the U.S. to pay its debt using bitcoin state-owned stockpiles.
Read more: Republican Senator Lummis Pushes for BTC Reserve as Trump Returns to the White House
“Either there’s going to be a debt jubilee or the U.S. dollar has to rebase to bitcoin. There are 100 million satoshis in a Bitcoin and you could reprice the US dollar to one satoshi,” Mow concluded.
