thecryptobasic.com
Samson Mow, Asian Bitcoin advocate and JAN3 CEO, has placed an ambitious Bitcoin prediction, tipping the premier asset to attain seven figures soon.
Mow asserts that Bitcoin will go parabolic soon, speculating a surge to a multi-million valuation per coin. The JAN3 CEO, famously known as the Asian Michael Saylor, based his lofty Bitcoin call on the macroeconomic landscape and growing US debt.
In an interview, Mow noted that US debts have increased to insane levels, placing the economy at risk of implosion. Data shows that the total outstanding public debt of the United States stands at $35.95 trillion.
The market expert noted that these debts are not sustainable. As a result, he believes there would either be a “debt jubilee” or the US would have to reprice its dollar valuation to a harder asset. Mow asserted that he sees the US dollar rebasing to one Satoshi.
Bitcoin to Surge to $100M on Rebasement Basis
The JAN3 CEO insisted that the United States would have to take a drastic approach to its growing debt. He stated this would happen as it could not pay the debt because it has outgrown its gross domestic product (GDP).
As a result, Mow sees the US government rebasing $1 to worth 1 Satoshi (SAT). Currently, 1 SAT trades at $0.000876. Repricing the dollar to the value of 1 SAT would spur Bitcoin to a value of $100 million.
Notably, Mow argued that the rebasement would eventually happen, noting it was a matter of when the US would make the move. He added that “it is inevitable that we do rebase to Bitcoin,” noting that $1 to 1 Satoshi was a “fair rebase plan.”
Mow’s Near-Term Assertion
Meanwhile, the JAN3 CEO stated that Bitcoin is on a path to $1 million per coin. He insisted that Bitcoin is severely undervalued at the current price and expects a massive parabolic expansion.
However, Mow noted that the premier asset would trade at $100,000 before the end of the year. He stated that Bitcoin would have attained the price mark but is still lagging from the FTX implosion and Grayscale sales hangover.
Notably, the famous Bitcoin advocate cited reasons for his six-figure assertion, which include the growing demand from the spot exchange-traded funds. The JAN3 CEO insisted that traction from the US Bitcoin investment vehicle would propel a surge past $100,000 before the next month ends.