$1 Million per Bitcoin or 1 Million BTC for Saylor's Strategy? Samson Mow Raises Important Question
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Samson Mow, the JAN3 CEO, known as a Bitcoin permabull who constantly bets that BTC is bound to reach $1 million per coin sooner rather than later, has taken to social media to raise an important question for the community — about Bitcoin going to one million and Michael Saylor’s treasury firm, Strategy.
Meanwhile, the flagship cryptocurrency has once again dived below the psychological $70,000 level. Some analysts believe that BTC is showing clear signs of a relief rally coming.
BITSTAMP:BTCUSD chart, source: TradingView">$1 million BTC first or 1 million Bitcoin in Strategy's pocket?
Samson Mow addressed the community, giving them some food for thought regarding the potential speed of BTC accumulation by Saylor’s Strategy. The JAN3 CEO wondered which will happen faster: Bitcoin surging to $1 million or Strategy boosting its holdings to 1 million BTC coins.
Currently, Bitcoin is changing hands slightly below $70,000, while the amount of BTC held by the treasury company stands at slightly above 700,000. Strategy has a little less than 300,000 Bitcoins to buy to achieve its planned goal of accumulating one million coins.
This week, Saylor announced that Strategy had acquired 17,994 BTC for approximately $1.28 billion at $70,946 per Bitcoin. It now owns a total of 738,731 BTC, worth $51,453,722,246."Bitcoin shows setup for near-term relief rally," Amina Bank's top exec says
A recent tweet by Amina Bank cites a recent interview with the institute’s Head of Derivatives Trading, Andreja Cobeljic, who made a bullish BTC prediction while talking to Bloomberg.
She stated that the digital gold now seems to show strong signs of an upcoming relief rally that are “more constructive than the headline environment would suggest,” hinting at multiple headlines in the media, pointing out that Bitcoin went down on Thursday as crude oil recovered and surged above $100 per barrel amid escalating tensions in the Middle East region.
Per Cobeljic, there are two main reasons why Bitcoin may surge in the near term. The first one is that negative funding rates on BTC perpetual futures have dropped to the lowest levels in the past month. The second one is a rise in Bitcoin accumulation by whales; they have been consistently buying BTC on dips recently, especially in the low-$60,000 price corridor.
source: https://www.tradingview.com/news/u_today:b47974d93094b:0-1-million-per-bitcoin-or-1-million-btc-for-saylor-s-strategy-samson-mow-raises-important-question/
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