• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: DOJ's Largest Bitcoin Seizure: $15 Billion In BTC Linked To Cambodian 'Pig Butchering' Scam
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: DOJ's Largest Bitcoin Seizure: $15 Billion In BTC Linked To Cambodian 'Pig Butchering' Scam
Bitcoin (BTC)

Bitcoin’s Road To $1M Still On Track: Expert Says Balaji’s Timing Was Off, Not His Prediction

Samuel Edyme
by Samuel Edyme
1 year ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Samson Mow, CEO at Jan3 and a staunch Bitcoin advocate, recently sparked a discussion among the crypto community, suggesting that Bitcoin’s journey to reaching a valuation of $1 million is still plausible.

Mow’s statement comes from views and predictions on BTC within the crypto community, including Balaji Srinivasan, a former a16z partner and Coinbase CTO.

Balaji’s Initial $1 Million BTC Outlook

In March, amid a tumultuous financial environment marked by the bankruptcy and subsequent rescue of several US banks, including those with ties to the crypto world like Silvergate and Signature Bank, Balaji Srinivasan placed a $2 million bet on a similar million-dollar trajectory for BTC.

Related Reading: Coinbase Ex-Executive Balaji Exits $1 Million Bitcoin Bet, Why?

The former Coinbase CTO mainly bet that BTC would hit a million-dollar price tag in 90 days. Balaji based his forecast on the rampant money printing by the US Treasury and Federal Reserve and the ongoing banking crisis.

While agreeing with Balaji’s price target, Mow noted that these events hadn’t sustained enough momentum to propel BTC to such heights. Though the former Coinbase executive eventually exited the bet, Mow disclosed that Balaji was never wrong about the $1 million BTC price target “but was wrong on the timing and the catalyst.”

Mow pointed out that the “normies,” or average people yet to embrace crypto fully, sought refuge in other banks instead of turning to BTC.

Balaji wasn’t wrong about #Bitcoin going to $1M, but he was wrong on the timing and the catalyst.

My $1M call is based on a massive rapid influx of institutional capital while Bitcoin available for sale is at historical lows, compounded by the halving.

His $1M prediction was…

— Samson Mow (@Excellion) December 6, 2023

Path To A Million: Institutional Capital And Bitcoin Halving

Delving deeper into the mechanics of BTC’s potential rise, Mow attributes the potential surge to a significant influx of institutional capital, coupled with the scarcity induced by BTC halving events.

The Bitcoin advocate anticipates that as institutional investors pump capital into the market, the limited availability of BTC will further drive up its price. This view aligns with the BTC community’s long-standing anticipation of institutional investment as a key driver for substantial price increases.

Mow’s belief is echoed by Bitcoin analyst Bit Paine, who provides a mathematical foundation for the million-dollar Bitcoin hypothesis. Paine’s analysis begins with the basic principles of supply and demand, calculating the new Bitcoin supply for upcoming cycles and estimating potential sales from long-term holders based on HODL Waves data.

People acting like @Excellion is insane for his $1M / #BTC call forget how fast #bitcoin can happen – which is the exact mindset needed for such a thing to occur.

$1M/#BTC is not my base case or expectation, but I can certainly imagine a set of circumstances under which it… pic.twitter.com/Fc4acjShpy

— Bit Paine ⚡️ (@BitPaine) November 24, 2023

His projection involves a massive capital influx of around $4.5 trillion, identifying U.S. retirement savings and corporate treasuries as potential major contributors.

Related Reading: Bitcoin Expert Unveils Math Behind $1 Million Per BTC Prediction

In addition to institutional investments, Paine also outlines other factors that could contribute to Bitcoin’s rise. These include increasing adoption by nation-states and the impact of new money creation, especially concerning the vast global bond market.

Bitcoin (BTC) price chart on TradingView.com
Bitcoin (BTC) price is moving sideways on the 4-hour chart. Source: BTC/USDT on TradingView.com

Featured image from Unsplash, Chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Samuel Edyme

Samuel Edyme

Follow

Edyme is a writer, a content writer that specialises in writing about the crypto realm. Asides Bitcoinist and NewsBTC, Edyme's writing has been featured in top sites such as Blockchain.News, CoinMonk, Blockchain Reporter, Bitcoin Insider among others.

Full Profile

Related Posts

2,496 Bitcoin Moved After Years Of Inactivity – Long-Term Holders Take Action

2,496 Bitcoin Moved After Years Of Inactivity – Long-Term Holders Take Action

4 hours ago
Bitcoin

Bitcoin On-Chain Alert: BTC MVRV Ratio Breaks Below 365-Day Average – Here’s What This Means

7 hours ago
pret Bitcoin

Bitcoin caută suport deasupra 107.000 USD, iar ecosistemul se extinde prin proiecte Layer-2 și un portofel digital inovativ

15 hours ago
Bitcoin Japan

Japan Eyes Major Crypto Rule Shift: Banks Could Soon Hold Bitcoin

17 hours ago
bitcoin price btc btcusd

Bitcoin Bounces Back Over $110K After Massive ETF Outflows, Is the Next Bull Run Starting?

23 hours ago
Bitcoin Short-Term Holders Capitulate: Realized Loss Ratio Hits 6-Month Low

Bitcoin Short-Term Holders Capitulate: Realized Loss Ratio Hits 6-Month Low

1 day ago

Premium Sponsors

Press Releases

  • KCEX стартира бонус за търговия от...

    9 hours ago
  • โปรโมชั่นโบนัสสำหรับผู้ใช้ใหม่จาก KCEX แจกสูงสุด 21,000 USDT

    KCEX จัดหนัก!...

    1 day ago
  • WEEX стартира кампания с до 50%...

    1 day ago
  • FleetMining Turns BTC, XRP, and ETH into Daily Income

    FleetMining Turns BTC, XRP, and ETH into Daily Income with...

    2 days ago
  • CryptoGDEX Launches Global Petition to Revolutionize Wealth Distribution

    CryptoGDEX Launches Global Petition to Revolutionize Wealth...

    2 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.