Bitcoin bull Samson Mow, CEO of Jan3 and a long-time advocate of $1 million BTC, has now revised his target even higher, suggesting Bitcoin could surge to $2 million per coin.
Mow’s new prediction came in response to a comment on X (formerly Twitter), where he hinted that the Bitcoin price target should be $2 million instead of the previously forecasted $1 million.
Maybe should be $2M,” Mow posted on X on Feb. 16.
Mow’s bullish outlook coincides with a wave of institutional investment into Bitcoin exchange-traded funds (ETFs).
Some of the biggest players in finance have been accumulating BTC at an aggressive pace. Millennium Management has allocated $2.6 billion, while Brevan Howard has invested $1.38 billion.
Goldman Sachs has entered the race with a $1.58 billion stake, and the UAE Sovereign Fund now holds $436 million in Bitcoin ETFs. The largest institutional holder so far is Jane Street, which has accumulated 30,000 BTC in ETFs, amounting to $2.8 billion in holdings.
Earlier this week on Roundtable , Gracy Chen predicted that Bitcoin could reach $200,000 in 2025.
How far is Bitcoin from $2 million?
At the time of writing, Bitcoin is trading at $95,725.26. For it to reach $2 million, it would need to surge by approximately 1,989% from its current price.
Even when compared to its all-time high (ATH) of $108,000 in January 2025, Bitcoin would still need a 1,752% increase to reach Mow’s $2 million target.
The price increase required means that for Bitcoin to hit such a milestone, it would likely need a combination of factors, including increasing institutional adoption and an acceleration of global financial uncertainty that pushes demand for BTC as a hedge.
JPMorgan and Goldman Sachs increase Bitcoin ETF holdings
Meanwhile, JPMorgan Chase, one of the largest financial institutions in the world, has significantly expanded its exposure to Bitcoin and Ethereum ETFs, as revealed in its latest 13F filing with the U.S. Securities and Exchange Commission (SEC).
The firm now holds $984,000 in Bitcoin ETFs and $32,300 in Ethereum ETFs across multiple funds.
Goldman Sachs has also doubled down on Bitcoin ETFs, increasing its exposure substantially. The firm now holds $1.27 billion in BlackRock’s iShares Bitcoin Trust ETF (IBIT), which amounts to 24,077,861 shares. Additionally, Goldman disclosed a $288 million stake in Fidelity Wise Origin Bitcoin ETF (FBTC), holding 3,530,486 shares. The latest filings show that institutional players are treating Bitcoin as a long-term asset, a sentiment reinforced by Mow’s increasingly bullish stance.
