Bitcoin advocate Samson Mow has once again shared a bold prediction about the world’s largest cryptocurrency. The Jan3 CEO now believes that Bitcoin could reach $1 million much sooner than his previous forecast of 2031.
His reasoning? A surge in government support for the crypto, particularly in the United States, could send the price soaring faster than anticipated.
Government Support Could Speed Up Crypto’s Rise
Mow’s updated forecast coincides with the crypto’s increasing political support. He claims that US President Donald Trump’s pro-crypto position is one of the main motivators.
Trump’s actions have indicated a change in government policy, including executive orders that encourage the use of Bitcoin. Mow contends that this would open the door for significant institutional investment, which would raise the price of BTC even further.
The market is experiencing additional liquidity as a result of conventional financial institutions’ growing interest in Bitcoin. Additionally, more governments worldwide are taking a more accommodative stance toward cryptocurrencies, which supports Mow’s prediction that the next price spike for the coin may occur much sooner than estimated.
Since getting into #Bitcoin, what I’ve consistently found is that everything always happens faster than I expect. And now we have the White House promoting #Bitcoin. That’s why my prediction is for a fast run to $1.0M. I’m front-running my own model which indicates $1.0M in 2031. https://t.co/0np0k65XYs
— Samson Mow (@Excellion) March 8, 2025
Spot Bitcoin ETFs Playing A Big Role
Another key factor Mow points to is the growing influence of spot Bitcoin exchange-traded funds (ETFs). With billions of dollars already invested in these ETFs, Bitcoin is now more accessible to a larger group of investors. This might be one of the main factors propelling it to $1 million, according to Mow.
BTC market cap currently at $1.65 trillion. Chart: TradingView.com
Institutions are investing heavily in these ETFs, which is driving up demand for Bitcoin. Naturally, more demand drives up the price of BTC given its limited quantity of 21 million coins. Mow thinks the $1 million per coin milestone might arrive considerably sooner than most people anticipate if this trend keeps up.
Not Everyone Is Convinced
Despite Mow’s confidence, some analysts remain skeptical about such an extreme price surge happening so quickly. Bitcoin’s price is still subject to market cycles, regulatory decisions, and macroeconomic events.
Past prices of the top digital asset have been erratic, which is not surprising, given the nature of the crypto. It has witnessed dramatic declines even as it has enjoyed impressive price rallies. The way these several elements interact in the next years will determine if Mow’s forecast will materialize.
The Road To $1 Million
The idea of Bitcoin reaching $1 million isn’t new, and Mow has always remain steadfast in his belief that the flagship crypto can overcome obstacles and pull off a big surprise soon. If political support continues to grow, and institutions keep injecting money into BTC, the possibility of a rapid rise can’t be ignored.
At the time of writing, BTC was trading at $83,267, down 3.1% and 9.0% in the daily and weekly timeframes.
Featured image from Gemini Imagen, chart from TradingView
