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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
Just shy of the $4,891 ATH—think it breaks through?
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'Everything Trending to Zero Against Bitcoin,' '$1 Million BTC' Samson Mow Warns
In it, Mow once again underscored an unlimited economic potential of Bitcoin, which he expects to develop in the near future. Mow is widely known as a firm advocate of BTC reaching $1 million per coin inevitably.
Mow's ultra-bullish Bitcoin message to community
Samson Mow believes that every single asset is trending towards zero against Bitcoin and this is what he expects to happen eventually. In his X post, he reminded the BTC community about this: “Everything is trending to zero against Bitcoin. Don’t ever forget that.”
Mow’s bullish position is based on the fact that Bitcoin has no centralized issuer, unlike with altcoins that followed BTC, and its supply is strictly limited to 21 million coins. More than 19 million has been mined already by now and this is making Bitcoin even more scarce than before. Besides, since January 2024, spot ETFs have been accumulating BTC.
Also, this year, several companies began following the playbook of Michael Saylor’s Strategy and started to accumulate BTC, funding those purchases by issuing securities which are being bought by investors who prefer to have an indirect exposure to Bitcoin.
Similar tweets are often published by another Bitcoin maximalist, Max Keiser, who is an early BTC adopter, a financial commentator, and currently the Bitcoin advisor to El Salvador’s president, Nayib Bukele. In 2021, this country adopted Bitcoin as the only legal medium of exchange.
Bitcoin loses $122,000 this week despite low CPI data
Earlier this week, the largest cryptocurrency succeeded in reaching a local top of $122,300 after a 5% increase experienced over the weekend. However, by now, a rebound has taken place, pushing BTC down 2.42%.
At the time of this writing, Bitcoin is changing hands at $119,300. On Tuesday, the inflation report was released and the CPI data came out lower than experts had anticipated – 2.7% versus the expected 2.8%. Even though it may signify that the Fed Reserve could cut rates later this year, BTC remained unfazed by this news, going down from above $122,000 to under $120,000.