Renowned Bitcoin maximalist and JAN3 chief executive officer Samson Mow has taken to the X social media platform (formerly known as Twitter) to reveal his bullish take on the plans of the U.S. government, recently voiced by pro-Bitcoin senator Cynthia Lummis, to buy a whopping one million BTC and make strategic reserves of the world’s flagship cryptocurrency.
Are future U.S. Bitcoin reserves priced in? Mow shares take
Mow believes that these potential Bitcoin reserves will not slow down Bitcoin's price from growing, perhaps even reaching $1 million. The boss of the JAN3 company focused on helping nation-states to adopt BTC reckons that “strategic Bitcoin reserves are not priced in,” according to a recently published tweet of his.
Strategic #Bitcoin Reserves are not priced in.
— Samson Mow (@Excellion) August 1, 2024
Similar discussions often arise before various upcoming events that may be significant for the Bitcoin price. The most recent one was the fourth BTC halving that occurred on April 20 this year and reduced the block reward for miners by half – from 6.25 to 3.125 BTC.
The announcement was made by Cynthia Lummis during the Bitcoin 2024 event that took place recently in Nashville, Tennessee. Among the speakers were Bitcoin investor and head of Galaxy Digital fund Mike Novogratz; founder of the largest corporate Bitcoin holder, MicroStrategy, Michael Saylor; Ark Invest CEO Cathie Wood; and former U.S. NSA analyst and whistleblower Edward Snowden.
Mow believes that Bitcoin is likely to reach the $1 million price mark within a year. Even if it does not happen within this time frame, he stated in tweets earlier this year, this price surge is still inevitable in the near future.
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Mt. Gox summarizes crypto payouts made in July
The Chinese cryptocurrency journalist and blogger has shared that the nonfunctional crypto exchange, Mt. Gox’s, Rehabilitation Trustee made compensation repayments in Bitcoin and Bitcoin Cash to more than 17,000 creditors by now.
Approximately six billion worth of BTC and BCH were paid out in July through centralized cryptocurrency exchanges to those who suffered from the loss of funds during the Mt. Gox hack in 2014. The platform was subsequently shut down. The payments were made at the start and end of July.
MtGox: Following repayments on July 5 ,16 and 24, 2024, on July 31, 2024, the Rehabilitation Trustee made repayments in BTC and BCH to some of the rehabilitation creditors through Exchanges. We has now made repayments in BTC and BCH to over 17,000 rehabilitation creditors to…
— Wu Blockchain (@WuBlockchain) August 1, 2024
The recent payouts have pushed the Bitcoin price down by almost 9%, pushing it from $70,000 to the $64,000 zone.
