Samson Mow: Bitcoin Bull Market Hasn’t Even Started Yet
Despite Bitcoin trading above $100 000, Jan3 founder Samson Mow believes the true bull market has yet to begin. According to him, current price levels barely outpace inflation and represent only the early stage of a much larger growth cycle.
“We are just beating inflation”
In a series of posts on X dated November 5, Mow asserted that the market is still in a transitional phase rather than a full bull run. “Bitcoin’s bull market hasn’t started yet. At the current price range, we’re only slightly ahead of inflation,” he wrote.
He noted that even though BTC exceeds $100 000, its real purchasing power gain remains modest when adjusted for a 3 % U.S. inflation rate. For Mow, this means that the next phase of Bitcoin’s rally will come not from speculation but from structural adoption and monetary shifts.
Bitcoin’s macroeconomic appeal
The Jan3 CEO highlighted that Bitcoin’s ability to outperform traditional assets during periods of monetary expansion is becoming increasingly clear to institutional investors. He argued that as fiat currencies lose value due to persistent inflation, Bitcoin serves as a digital hedge whose price growth merely reflects the currency debasement so far.
“Once we see real capital rotation from bonds and equities into BTC, that’s when the bull market truly starts,” he added.
Market reactions and institutional interest
Analysts echo Mow’s view that Bitcoin’s current rally is fueled more by macroeconomic uncertainty than by speculative euphoria. ETF flows have been mixed in recent weeks, while long-term holders continue to accumulate, signaling confidence in the asset’s mid-term outlook.
Large corporations such as Strategy and Metaplanet are also reinforcing the “digital gold” narrative through massive Bitcoin purchases and BTC-backed financing plans, further supporting Mow’s argument that the market’s foundation remains strong.
The road ahead
Mow remains optimistic that the next major cycle could see Bitcoin reach six-digit territory as a base level, rather than a peak. He believes that global economic shifts and sovereign interest in Bitcoin will drive demand far beyond current expectations.
“People think we’re late in the cycle, but in reality, we’re just warming up,” he said. “The real bull run will start when Bitcoin becomes the preferred store of value for nations and institutions alike.”
Editorial Team — CoinBotLab