Indeed, you read that headline correctly! This is precisely how Samson Mow, a prominent Bitcoin advocate known for his “$1 million BTC” prediction, addressed a question about his seemingly “overly optimistic” stance on the leading cryptocurrency’s future price. His reasoning stems from recent news indicating a significant influx of capital into Bitcoin (BTC).
The movement began with Millennium Management, a leading hedge fund, which has now amassed $2.6 billion in Bitcoin ETFs. Notably, BlackRock’s iShares Bitcoin Trust (IBIT) makes up the largest share, with over $844 million invested, followed closely by Fidelity’s Bitcoin ETF with $806 million.
Additionally, Brevan Howard has invested $1.38 billion in Bitcoin, with much of its trading occurring out of the UAE, a region where crypto finance is rapidly expanding.
Goldman Sachs is also getting involved, with its Bitcoin ETF holdings reaching $1.58 billion. The sovereign wealth fund of Abu Dhabi has revealed $436 million in Bitcoin ETF investments, primarily in BlackRock’s spot Bitcoin ETF.
However, the most striking development comes from Jane Street Group, which has quietly acquired nearly 30,000 Bitcoin through spot ETFs, valued at about $2.8 billion — surpassing Goldman Sachs, which holds around 25,000 BTC.
Samson Mow, JAN3, and Bitcoin
For Mow, this phenomenon extends beyond mere institutional adoption. He views it as a transformative moment, confirming that Bitcoin’s role in global finance is solidifying more rapidly than anticipated. With increasing participation from firms and a surge in capital, he asserts that the trend is unquestionably upward.
Related
Though the specifics of Mow’s own Bitcoin holdings remain unknown, his firm JAN3 recently acquired 12 BTC, achieving an impressive 15% return, translating to a remarkable $150,000 profit within just a month. This uptick followed a successful funding round that brought in $5 million aimed at enhancing their Bitcoin-centric services and products, such as the AQUA wallet.
Some might argue that this is a modest sum, but it reflects the genuine efforts of one of the most prominent advocates for Bitcoin in the space.
