Canadian entrepreneur and JAN3 CEO Samson Mow believes Bitcoin could reach $1 million faster than expected.
According to Mow, Bitcoin’s value could rise to the million mark by 2031. Speaking on X, he explained that the token could quickly surge, especially now that the White House is backing it.
He even cited one of the White House X posts promoting the token: “America will be the Bitcoin superpower of the world. The Golden Age of America has BEGUN!”
Mow expects Bitcoin to reach $1 million by 2031 with the White House’s support
In another X post, Mow insisted that Bitcoin’s uptick in performance happened faster than everyone thought it would, predicting that the same will continue in the coming years.
With the White House’s current support for the token, Mow expects that Bitcoin could see an easy and fast run to $1 million. He even agreed with another X user who said his prediction of $1 million by 2031 is conservative.
On Thursday, President Donald Trump signed an executive order authorizing the creation of a strategic bitcoin reserve — and a separate US stockpile of other digital assets. He has maintained that they remain focused on obtaining Bitcoin without drawing on taxpayers and even asked the US Treasury to identify budget-neutral approaches.
For now, the government is counting on previously seized assets, roughly 200,000 BTC, to contribute to the reserve.
The White House’s current stance is that it will not sell its BTC holdings and will establish the USA as the global Bitcoin superpower.
Donald Trump told some of the leading cryptocurrency players on Friday that he is keeping his promises and will continue giving the industry what it wants.
“I promised to make America the bitcoin superpower of the world and the crypto capital of the planet, and we’re taking historic action to deliver on that promise,” he said at the end of a crypto summit at the White House.
Coinbase Global CEO Brian Armstrong, who was among the attendees, said, “President Trump really breathed life back into this industry,” citing a decision by his cryptocurrency exchange to hire 1,000 people in the US as a result of the increased regulatory clarity provided by the new administration
Mow thinks other nations are hoarding Bitcoin in secret
Still, some analysts are criticizing the Trump administration for the decision to concentrate on seized assets instead of purchasing more Bitcoin.
Charles Edwards, the founder of the Capriole Fund, a hedge fund specializing in Bitcoin and other digital assets, even said that because no Bitcoin was being actively purchased, the strategic reserve was merely a “fancy title” for assets that already existed within the government’s command.
One X user even queried Mow if he believes other nations are secretly purchasing Bitcoin, to which he replied , “Yes,” potentially indicating that the United States was a bit late to the Bitcoin party.
Assuming that the claims made about other countries hoarding assets are factual, and with the government making no plans to initiate that kind of purchasing, the US’s transformation into a Bitcoin superpower is improbable at best.
This week’s reserve announcement and crypto summit followed a period of intense turbulence in the digital asset market. Bitcoin has been experiencing its most severe correction since the 2022 meltdown. BTC dipped from above $90,000 in the hour after Thursday’s presidential action before regaining much of that ground.
The leading crypto is down 4% since the order was announced and 20% from its all-time high above $109,000 on the day of Trump’s inauguration in January.
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