Samson Mow, vocal Bitcoin proponent and the chief executive officer of JAN3, has commented on a recent statement about the suggestion made by Senator Cynthia Lummis during the Bitcoin 2024 conference to transfer U.S. Federal Reserve banks’ reserves from treasuries into Bitcoin over the next five years. That would constitute 1,000,000 BTC – 5% of the Bitcoin circulating supply.
Paul Vigna, co-author of the “The Age of Cryptocurrency” book, also made a comment on that suggestion, and Mow basically responded to him, citing Vigna's tweet in his own.
Mow's statement on "Bitcoin volatility"
Vigna pondered why the Federal Reserve would want to convert its treasuries reserves into Bitcoin, labeling the former as “the safest asset in the world” and the latter as “the most volatile” one. The writer wondered what benefit that would provide to the Federal Reserve.
Mow responded to that, saying that he saw that as the beginning of conversations on whether Bitcoin is a reserve asset or not. The JAN3 boss shared his expectations, saying that “The preconception of what is a “safe asset” and what is “volatile” will be shattered in the coming months.” Perhaps this is another statement of the “super bullish Bitcoin news” that he promised last week, saying that it will become known within the next few days.
The conversations around #Bitcoin as a reserve asset have begun. The preconception of what is a “safe asset” and what is “volatile” will be shattered in the coming months. https://t.co/eRnts6bN2S
— Samson Mow (@Excellion) July 28, 2024
Overall, Mow is a believer that within the next year, Bitcoin is bound to skyrocket to $1 million per coin. On Saturday, he tweeted that by 2045 he does not expect the U.S. dollar to exist.
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Mow doubles down on his mega-bullish BTC prediction
Last week, Samson Mow made an optimistic Bitcoin prediction as he tweeted that the crypto community should say goodbye to “sub $0.07 million Bitcoin forever.” Today, the Bitcoin maximalist revisited that tweet and reposted it, adding an “eyes” emoji to it.
👀 https://t.co/tMhxcuCZYC
— Samson Mow (@Excellion) July 29, 2024
That happened as, over the past 24 hours, the global flagship digital currency gained approximately 3.7% and came very close to recapturing the $70,000 price level. There was one particularly big hourly green candle that pushed Bitcoin up 1.45%. As of this writing, BTC is trading in the $69,500 zone. As for a slightly broader picture, since last Thursday, Bitcoin has increased by 8.57%, gradually soaring from the $64,030 price tag.
