JAN3 CEO Samson Mow expresses confidence in Bitcoin long-term prospects, predicting that the next BTC price surge will outshine gold’s recent rally.
For context, gold has been making headlines recently due to its remarkable performance. The world’s precious metal has repeatedly reached new highs this week, with the latest peak of over $4,370, recorded in the early hours of today.
Analysts attributed gold’s recent surge to several factors, including renewed U.S.-China trade tensions and expectations of the Federal Reserve’s interest rate cuts.
However, Bitcoin has endured a major correction since last Friday, crashing from around $120,000 to $107,000 yesterday. Bitcoin’s collapse comes days after it reached a record high of $126,198.
“Bitcoin Next Spike Will Shame Gold’s Rally”
Despite Bitcoin’s recent underperformance, Mow believes in the asset’s prospects. He suggested that the next Bitcoin price surge would put gold’s recent rally to shame. This implies that Mow expects the next Bitcoin rally to be far more substantial and more explosive than the recent gold rally.
As a staunch Bitcoin advocate, Mow has repeatedly argued that the leading cryptocurrency serves as an effective hedge against economic uncertainty amid its fixed supply and increasing institutional adoption.
His stance directly challenges the traditional view of those who regard gold as the ultimate safe-haven asset. Despite Bitcoin trading at around $100,000, Mow still believes the asset is undervalued.
Mow Predicts Bitcoin Surge to $1M This Year
In May, he suggested that Bitcoin should be trading at $10 million if only people understood BTC. Nonetheless, he predicted that the flagship crypto asset would reach the lofty target of $1 million by December 2025, representing an 822% surge from the current price of $108,461.
Mow’s prediction draws inspiration from Bitcoin’s remarkable 2016–2017 bull run, during which the cryptocurrency surged from around $1,000 to $20,000.
He noted that if Bitcoin could achieve such growth despite widespread criticism over its mining practices and minimal institutional adoption at the time, there is little standing in the way of its path toward the $1 million milestone, especially as institutions continue to indicate interest in BTC.
Schiff Says Gold Will Hit $1M Before Bitcoin
Elsewhere, popular Bitcoin skeptic Peter Schiff emphasized that gold is more likely to reach the $1 million mark than BTC.
He made the remark while emphasizing gold’s impressive performance, noting that Bitcoin was down 32% against gold since August. Consequently, he advised long-term Bitcoin holders to sell their BTC, which he referred to as “fool’s gold,” and buy gold, or risk going broke.
Meanwhile, gold has outpaced Bitcoin’s performance this year, surging over 60% year-to-date compared to Bitcoin’s 16% gain over the same period.
However, a longer-term view tells a different story. Bitcoin has risen 837% over the past five years, while gold’s growth over this period stands at a more modest 128%.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
