According to U.Today, Samson Mow, a vocal Bitcoin advocate and CEO of BTC company JAN3, has issued a warning to governments worldwide about the increasing significance of Bitcoin, the world's leading cryptocurrency. Mow discussed the current state of economies in various countries, including the United States, and highlighted the limitations of fiat money in supporting a healthy economy. He stated that fixing the economy is impossible because 'the money is broken,' suggesting that governments should 'fix the money first,' and used a Bitcoin hashtag in his tweet.
Mow believes that Bitcoin is currently undervalued, despite recent significant market sell-offs. He referred to the 'Omega law' in his discussion, although he did not elaborate on its meaning. This term appears to be a reference to his previous tweets, where he predicted an 'Omega candle' that would propel Bitcoin to new all-time highs and eventually to $1 million. Mow is confident that if Bitcoin does not reach this astronomical price this year, it will do so in 2025 or shortly thereafter.
Over the weekend, Mow expressed his belief that current sales will not harm Bitcoin. He tweeted that all BTC currently being sold will eventually be absorbed by the cryptocurrency market. He compared investors who sell quickly to 'paper hands' and long-term crypto holders to 'diamond hands.' Mow thinks that 'diamond hands' investors will purchase everything that 'paper hands' are selling. He specifically mentioned that Bitcoin will be bought by spot ETF issuers such as BlackRock, VanEck, Grayscale, and Bitwise. These entities were active daily Bitcoin purchasers between mid-January when these ETFs were approved by the SEC, and April 20, when the BTC halving occurred. After the halving, the spot ETFs began to see not only massive inflows but also outflows, sometimes daily. In the last 24 hours, the largest cryptocurrency on the market has fallen by 3.7%, losing the $62,800 level and dropping to the $60,500 zone.
