Crypto Expert Samson Mow Claims a New Era for Bitcoin Will Be Different
Samson Mow, a significant figure in the crypto market, has claimed that the current price volatility of Bitcoin may differ from previous cycles. As Bitcoin's price rises towards $92,500 amidst short-term fluctuations, it continues to hover near last week's peak level.
Mow, the CEO of JAN3, stated that this period exhibits differences when compared to historical cycles. By releasing a graph comparing Bitcoin’s past years, Mow evaluated Bitcoin's performance across four different market cycles since 2011. In the first cycle, Bitcoin gained tenfold in value within 450 days and showcased 500 times growth by the end of 730 days. During the 2015-2017 cycle, Bitcoin experienced a more gradual increase, gaining tenfold by the 856th day and reaching 100 times growth by the end of the 2017 bull market. The 2018-2021 period began more slowly, finishing with a gain of over tenfold by the 960th day, but concluding with less than fifty times growth by the end of the 2021 bull market. While the current cycle resembles these recent periods, Mow believes it is unique.
Bitcoin has garnered attention as it approaches historical highs following MicroStrategy's record investments. The cryptocurrency is currently just 1% away from last week’s peak of $93,265. MicroStrategy, in its November purchases, increased its Bitcoin holdings by $4.6 billion, marking its largest BTC investment to date. Led by Michael Saylor, the company has transitioned from a software firm to a major Bitcoin advocate, establishing a significant position in the cryptocurrency market.
The value of MicroStrategy's Bitcoin assets has surpassed $16 billion, making it the largest corporate holder of Bitcoin. The company turns to debt and equity markets to fund these purchases. Recently, it revealed a bond issuance of $1.75 billion, indicating plans to raise $42 billion in capital over the next three years.
Bitcoin has risen to become the eighth largest asset globally by market capitalization. The leading cryptocurrency continues to outpace traditional commodities and major tech companies with a valuation of $1.786 trillion. According to IntoTheBlock data, Bitcoin ranks among the largest global assets following gold, Apple (AAPL), NVIDIA (NVDA), Microsoft (MSFT), Alphabet (GOOGL), Amazon (AMZN), and Saudi Aramco. Increasing institutional demand and the growing popularity of Bitcoin ETFs have contributed to Bitcoin's expansion and rising market significance.
Recently, Bitcoin surpassed silver in terms of market capitalization as daily trading volumes reached $145 billion. Despite this growth, Bitcoin still lags significantly behind gold, which boasts nearly ten times the market capitalization.