Jan3's CEO, who predicts Bitcoin will soon reach $1 million, explains the reasons for his prediction.
The inherent scarcity of Bitcoin (BTC), limited to 21 million units, in the face of ever-increasing demand from exchange-traded funds (ETFs), corporations, and soon, nation-states, is the formula that will drive its price to $1 million in the short term. This is the vision of Samson Mow, CEO of Jan3 and Aqua, who spoke exclusively with CriptoNoticias during the "Accelerating Bitcoin" event held in the Paraguayan capital.
Mow, a well-known figure in the ecosystem for his advocacy for national Bitcoin adoption, is focused on engaging with political leaders to help them understand the strategic advantages of the digital currency. His company, Jan3, is dedicated to "providing tools so that individuals, businesses, and nation-states can benefit from an open and free financial system based on Bitcoin."
"We're always interacting with politicians," Mow explained. "We're always talking about Bitcoin and why countries should implement some Bitcoin strategy, whether it's a strategic reserve mining Bitcoin or some legal change that would encourage greater Bitcoin use in the country."
CBDCs, a non-existent competition for Bitcoin
One of the recurring themes in debates about the future of money is the role of Central Bank Digital Currencies (CBDCs). For Samson Mow, the answer is clear: they pose no threat to Bitcoin's advancement. His argument is based on the centralized and controlling nature of CBDCs, something he believes citizens perceive and reject.
"Not really. Nothing competes with Bitcoin," he stated. "If you look at the implementation of all CBDCs, they're not really being adopted because people realize it's government control over money, even more tightly controlled than the current system."
Mow cited concrete examples to support his assertion, such as the failure of the eNaira in Nigeria or the lukewarm reception of CBDCs in China. In his opinion, the existence of superior alternatives dooms these projects. "It's unlikely that any country will be able to successfully implement a CBDC given that Bitcoin and, to a lesser extent, stablecoins exist, as they have optionality," he stated.
Regulation vs. Innovation: The Politicians' Dilemma
When asked about regulatory frameworks taking shape around the world, such as the MiCA Act in Europe or the Genius Act in the United States, Mow expressed a critical stance toward "heavy-handed" legislation. He believes that innovation is a force that will always find a way around obstacles, but that restrictive regulations end up harming the citizens of those jurisdictions.
"I think MiCA falls into that category. That's really detrimental to people living in Europe," he commented. However, he views proposals like the GENIUS Act, which seeks to provide structure for stablecoin issuers without stifling development, more favorably.
For the CEO of Jan3, governments face a fundamental dilemma. "Everyone wants an inflow of capital, they want money to come into the country, but at the same time, their first inclination is to create laws regarding it, and that creates a barrier to money," he reflected. The decision, he says, is inevitable: "Do you want money or do you want laws? And eventually, you'll have to decide one or the other."
The Vision: From State Adoption to Everyday Use
While Jan3 focuses on macro adoption, its other project, the self-custody wallet Aqua, is aimed at the end user. The strategy is to offer a tool that simplifies interaction with digital assets, integrating the most in-demand use cases in the region.
"The vision for Aqua is for it to be just an everyday wallet," Mow described. "Particularly in Latin America, I think we want to target people here who are using stablecoins, so they can simply use Aqua to send, receive money, pay bills, borrow, access a credit card. It's basically a super app for people to manage all their finances in one place."
Finally, when asked about the rationale for his now-famous $1 million Bitcoin prediction, Mow summed it up in a simple supply and demand equation.
"It's just the scarcity of Bitcoin and the demand for Bitcoin, and we always see demand increasing," he stated. He pointed to ETFs, corporations adding them to their treasuries, and the imminent arrival of nation-states as catalysts. With the supply fixed and known to all, the conclusion for him is logical and inescapable: "Everyone is competing for a piece of the 21 million dollar pie, and there isn't much Bitcoin left."
