One of the most well-known Bitcoin maximalists and CEO of JAN3 shared his excitement about the U.S. government’s plan to buy a remarkable one million bitcoins on X, which used to be Twitter. Senator Cynthia Lummis, who supports BTC, recently talked about this plan.
Its goal is to build up strategic stocks of the world’s most popular cryptocurrency.Mow is confident that setting up these possible BTC stocks won’t slow down BTC’s price growth.
He even thinks that BTC could hit an all-time high of $1 million. Mow’s company, JAN3, helps countries accept BTC. He clarified in a tweet that “we do not price in strategic BTC reserves.”
Bitcoin Reaches New Milestones
Senator Lummis announced the government’s major plan at the BTC 2024 event in Nashville, which this announcement follows. Famous people such as BTC investor and Galaxy Digital fund head Mike Novogratz, MicroStrategy founder Michael Saylor, Ark Invest CEO Cathie Wood, and former U.S. NSA researcher and whistleblower Edward Snowden spoke at the event.
Mow isn’t completely wrong to be optimistic. He has repeatedly stated that BTC will reach $1 million within a year, and he reiterated this earlier this year. Even if we don’t meet this goal within the planned time frame, Mow predicts a significant price increase soon.
The talk about Bitcoin’s future usually gets heated before important events. On April 20, the fourth Bitcoin halving took place. This time, the block payout for miners experienced a 50% reduction, going from 6.25 BTC to 3.125 BTC. In the past, these events have had an effect on Bitcoin’s price.
The Rehabilitation Trustee of the now-defunct Mt. Gox exchange recently paid back over 17,000 clients in BTC and BTC Cash as compensation. This changed the way the market works.
People who lost BTC or BCH in the 2014 hack that shut down Mt. Gox got about $6 billion worth of those currencies through centralized platforms in July. After these payments, Bitcoin’s price dropped from $70,000 to around $64,000 for a short time.
