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.
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