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Samson Mow, prominent Bitcoin advocate and the CEO at JAN3, has published an important warning about Bitcoin approaching the $100,000 level.
In the past day, the world’s leading cryptocurrency has reached a new record price peak slightly under $98,000.
Mow's Bitcoin buy warning
Watching as Bitcoin rapidly approaches $100,000, Mow tweeted that the chances of buying BTC below the “$0.10 million” level are fading away quickly. He said: “You can still buy #Bitcoin for less than $0.10M.”
You can still buy #Bitcoin for less than $0.10M.
— Samson Mow (@Excellion) November 21, 2024
Once Bitcoin steps over the $100,000 threshold, things will “start to go faster.” Mow is well known for his belief that Bitcoin will soon reach the $1 million price level. Two major reasons for that, according to Mow, are the BTC supply shock that was created by the Bitcoin halving that took place in April and the Bitcoin demand shock, which is coming soon, Mow believes.
The demand shock is about to occur, Mow tweeted on Wednesday. He started talking about these two shocks in January, expecting spot Bitcoin ETFs to bring it on as they have been amassing BTC in great amounts since the start of the year. The launch of spot Ethereum ETFs followed suit. Now, BlackRock has filed for an exchange-traded fund based on the spot XRP price.
A price of $1 million per Bitcoin is likely to happen within the next year or very soon after that. Now that BTC has almost reached $100,000, Mow expects the Bitcoin price to start rising much faster.
$1.2 billion in Bitcoin mysteriously transferred
According to popular blockchain tracker Whale Alert, approximately 20 hours ago, a whopping 12,899 Bitcoin were transferred from one anonymous wallet to another. At the time of the initiated transaction, this amount of BTC was valued at a massive $1,221,514,492.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 12,899 #BTC (1,221,514,492 USD) transferred from unknown wallet to unknown wallethttps://t.co/GwoOckqAwp:
— Whale Alert (@whale_alert) November 20, 2024
The crypto community was quickly set abuzz by this mysterious and huge transfer. Crypto users on X started a heated discussion as to the nature of this transfer, assuming that a whale might be reshuffling his BTC holdings or somebody making a purchase. One X user tweeted: “transferred from Deribit cold wallet to Deribit cold wallet.”
Crypto exchanges often transfer large amounts of cryptocurrencies as they redistribute their crypto holdings between new wallets.
A day before, an ancient wallet was reactivated. It had held 50 BTC for 12.8 years and turned it from $200 into $4,618,081.