Samson Mow, the CEO of pro-crypto firm Jan3, has shared his ambitious targets for 2026. Mow’s recent predictions have been among the most bullish since the start of the calendar year and should be taken with a pinch of salt.
Musk to Go “Hard” into Bitcoin?
While other predictions are typical hot takes from Mow, one that stands out is that Musk will go “hard” into Bitcoin. It means that the Tesla and SpaceX CEO will invest massively in the premier digital currency.
According to recent estimates by Forbes and Bloomberg, Musk is worth anywhere between $600 billion and $700 billion, and if he goes hard into the digital currency economy, it will be a massive boom for the market. Not to mention, Musk’s companies, including Tesla, SpaceX, and X (formerly Twitter), are worth in excess of $2.5 trillion and advancing aggressively.
While the decision to go on the offensive and buy Bitcoin rests solely on Musk’s eccentric shoulders, he has done it before. Back in 2021, Musk dropped a bombshell by announcing a major $1.5 billion Bitcoin purchase through Tesla, representing roughly 10% of the company’s cash on hand.
The move was one of multiple reasons that led to a major crypto boom in the year, but the Tesla CEO’s eccentric ways arguably caused a significant price drop later on when he announced he would sell a significant portion of the company’s stash.
Why Can Musk’s Involvement Be a Double-Edged Sword?
Because of Musk’s history of impulsive, rash decisions when buying or selling Bitcoin, the crypto community might be apprehensive about his involvement. He usually tries to dominate the news headlines after investing in a company or asset, as seen in his 2021 BTC purchase and his 2022 hostile takeover of Twitter.
However, it is no secret that Musk prefers Bitcoin over fiat. Elon Musk described Bitcoin as a “less dumb form of liquidity than cash”. He made this statement in February 2021 to defend Tesla’s $1.5 billion investment in cryptocurrency.
Musk has given little indication of such an aggressive pivot, and it remains to be seen whether he will go through with it.
Source: https://zycrypto.com/could-the-worlds-richest-man-trigger-a-bitcoin-boom-mow-forecasts-musk-will-go-hard-into-bitcoin/
