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Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U. Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Samson Mow, Jan3 chief executive and a vocal believer that Bitcoin will ultimately reach the $1 million level, has made a bullish prediction regarding spot Bitcoin ETFs for this week.
Exchange-traded funds based on the spot Bitcoin price were approved by the SEC regulator in the middle of January after many months of anticipation by the companies that launched those funds and the whole global Bitcoin community.
Since the trading began, ETFs started scooping up monstrous amounts of Bitcoin from the market. On peak days, these purchases went as high as more than 10,000 BTC. The largest part of this Bitcoin was consumed by the ETF leader IBIT launched by BlackRock. Currently, this fund holds more than $15 billion in the BTC equivalent and has surpassed such centralized cryptocurrency exchanges as Kraken and OKX.
Over the past few days, though, the inflows into these ETFs suffered stark outflows of more than $850 million worth of Bitcoin. Last week, Samson Mow issued a statement, sharing his expectation that very soon these outflows will likely become inflows again.
Today, Mow tweeted that he has a hunch that this week is going to be “a net inflow week,” adding a Bitcoin hashtag. Some commentators interpreted this tweet as related to Bitcoin ETFs.
In the meantime, the Bitcoin price has surpassed the $70,000 level, showing a 5.12% increase today and printing several consecutive green candles on the chart.
Prominent financial expert, investor and the author of the “Rich Dad Poor Dad” book on personal finances Robert Kiyosaki is known as a vocal Bitcoin proponent. Today, he tweeted that he intends to acquire 10 Bitcoins before April arrives.
He plans to make this purchase before the Bitcoin halving expected in the second half of April. This event is going to make the world’s flagship cryptocurrency much more scarce than before, taking into account the current purchases that are being made by the ETFs.
Kiyosaki believes that by September this year Bitcoin will reach an all-time high of $100,000. In his previous tweets, he declared that this was likely to happen in June and that by the end of 2024 Bitcoin would skyrocket as high as $300,000.