Expert Believes BTC Will Reach $1M Following ETF Approval

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According to JAN3 CEO Samson Mow, once the SEC approves the first US spot Bitcoin ETF, the price of the first cryptocurrency will skyrocket to $1 million.

In an interview with Cointelegraph, Mow expressed his belief that this surge will occur within a matter of “days or weeks” following the approval.

He predicts that this growth will be driven by a huge influx of money from institutional investors in 2024. Mow added that there will be a limited supply of Bitcoin available for purchase on exchanges due to the increased demand, leading to a rapid increase in price.

In contrast to the unsuccessful prediction made by former Coinbase CTO Balaji Srinivasan, Mow believes that the approval of a Bitcoin ETF will have a more significant impact on the asset’s price than the Federal Reserve’s printing of money.

Mow explained, “Printing money is a slow process, akin to boiling water. It will take years for its effects to ripple through the economy.”

Louis Adams https://www.satoshihodler.com

I am an experienced crypto news writer. I have been in the industry for many years and believe this tech can bring financial freedom to everyone.