Bitcoin
Samson Mow Teases Crucial Bitcoin Argument That Will Be Resolved in the Coming Months by U.Today
U.Today – Samson Mow, vocal proponent and executive director of JAN3, has commented on a recent statement regarding the suggestion made by Senator Cynthia Lummis during the Bitcoin 2024 conference to transfer the reserves of the US Federal Reserve banks from treasuries to Bitcoin over the next five years. This would constitute 1,000,000 BTC – 5% of the circulating supply of Bitcoin.
Paul Vigna, co-author of the book “The Age of Cryptocurrency,” also commented on the suggestion, and Mow essentially responded to him by quoting Vigna’s tweet in his own tweet.
Mow’s statement on “Bitcoin volatility”
Vigna pondered why the Federal Reserve would want to convert its treasury reserves into Bitcoin, labeling the former as “the safest asset in the world” and the latter as “the most volatile.” The writer wondered what benefit this would provide the Federal Reserve.
Mow responded to this by saying that he sees this as the beginning of a conversation about whether Bitcoin is a reserve asset or not. The JAN3 chief shared his expectations, saying that “the preconception of what is a ‘safe haven’ and what is ‘volatile’ will be shattered in the coming months.” This is perhaps another statement on the “super bullish Bitcoin news” he promised last week, saying it would be known in the coming days.
Overall, Mow believes that Bitcoin should skyrocket to $1 million per coin next year. On Saturday, he tweeted that he doesn’t expect the U.S. dollar to exist until 2045.
Mow reinforces his mega-bullish BTC prediction
Last week, Samson Mow made a bullish prediction about Bitcoin when he tweeted that the crypto community should say goodbye to “Bitcoin below $0.07 million forever.” Today, the Bitcoin maximalist revisited that tweet and reposted it, adding an “eyes” emoji to it.
This is because the leading global digital currency has gained approximately 3.7% in the past 24 hours and has come very close to recapturing the $70,000 price level. There was a particularly large hourly green candle that pushed Bitcoin up by 1.45%. At the time of writing, BTC was trading in the $69,500 zone. Looking at the bigger picture, since last Thursday, Bitcoin has increased by 8.57%, gradually climbing from the $64,030 price tag.