Samson Mow says Bitcoin ETF approval will catapult BTC to $1 million in “days to weeks.”

Bitcoin (BTC) is expected to reach $1 million in the “days to weeks” following the approval of a spot BTC exchange-traded fund (ETF), according to JAN3 CEO Samson Mow.

“You are encountering a very limited supply of Bitcoin on exchanges and can be purchased with an influx of money,” Mow said, referring to the influx of institutional capital expected following a possible spot ETF approval.

“That’s why you can suddenly go really high,” he adds.

Commenting on a similar prediction of $1 million per Bitcoin by entrepreneur Balaji Srinivasan, Mow said the impact of a preliminary Bitcoin ETF approval will impact prices much faster than central bank money printing.

“Printing money is like boiling water very slowly,” he explained. “It will take years for this to penetrate the economy.”

Unlike previous rallies that took Bitcoin to new highs in a matter of months, Mow said the rally to $1 million following ETF approval will be much faster.

“The increase in 2017 was nine months up to 20-fold,” he recalls.

“Given that billions and billions are going to be going into ETF approvals all at once, I think it's going to be a much shorter time frame,” Mow said.

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