According to U.Today, Samson Mow, CEO of Jan3, a company dedicated to assisting nation-states in adopting the leading cryptocurrency, recently shared his thoughts on Bitcoin and its elusive creator. Mow commemorated the so-called 'Bitcoin Day', January 3, 2009, stating that it marked a significant shift in the global monetary system. He referred to this day as the end of the 'monetary dark ages'.
January 3 is recognized as Bitcoin Day as it is the timestamp for the Bitcoin genesis date, as reported in a Times article. The article also discussed the economic instability caused by fractional reserve banking. Interestingly, Mow's company name, Jan3, mirrors the date of Bitcoin Day.
The years 2008 and 2009 were marked by the mortgage bonds crisis, which is thought to have motivated Satoshi Nakamoto to create Bitcoin. In response to the crisis, the Federal Reserve began printing additional U.S. dollars and injecting them into the economy, a process known as quantitative easing. Nakamoto launched Bitcoin in 2009 and then abruptly left the project in the hands of developers the following year to pursue other ventures.
In a separate tweet, Mow shared his perspective on the emergence of 'diamond-handed Bitcoin holders' in the market. He suggested that these individuals, who hold onto their Bitcoin regardless of market fluctuations, are not born but are 'forged from extreme pressure', much like diamonds. Mow noted that each significant market downturn and subsequent recovery creates more of these steadfast investors, as they buy during the dip. Conversely, those who sell their holdings when the price begins to correct are referred to as 'paper hands' in the cryptocurrency market.
At the time of writing, Bitcoin is trading at $64,445, having made an impressive recovery over the weekend with a gain of 9.16%.