Big MicroStrategy 'secret' revealed by Bitcoiner Samson Mow
U.Today – Samson Mow, top evangelist and head of the Bitcoin-oriented company Jan3 that aims to help nation-states with Bitcoin adoption, published a post on Twitter/X highlighting Bitcoin's role in the success from such major companies as MicroStrategy and .
At the same time, he investigated the second largest cryptocurrency by market capitalization.
Mow explains the success strategy of MicroStrategy and Tether
Prominent Bitcoiner Mow believes that companies like MicroStrategy and Tether (issuer of the USDT stablecoin) have such a significant market capitalization because they have chosen only Bitcoin from the entire cryptocurrency market to bet on.
MicroStrategy has been adding large amounts of BTC to its balance sheet regularly since August 2020, and Tether holds Bitcoin among the assets backing the USDT supply it issues. Michael Saylor's business intelligence giant now owns a staggering $8.7 billion worth of Bitcoin, and this, surprisingly, exceeds the company's market capitalization by $1 billion.
By the way, earlier this week, Michael Saylor asked the cryptocurrency community not to sell their Bitcoin, despite the continued decline in the BTC price that is occurring despite the agency's spot approval of the ETF. SEC regulator.
As for Tether, last quarter it acquired another Bitcoin stash worth $380 million worth of Bitcoin. At the time of writing, Tether has 66,465 BTC.
Mow highlighted the importance of the world's flagship cryptocurrency, Bitcoin, compared to the second largest by market capitalization value: Ethereum.
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Mow criticizes Ethereum and praises Bitcoin
In another tweet today, Mow criticized Ethereum, comparing the “Bitcoin-Ethereum” pair to the “gold-silver” pair. He stated that “silver is a poor man’s gold,” while “Ethereum is a fool’s Bitcoin.”
Mow has recently been tweeting about his expectations for Bitcoin to reach $1 million. Elaborating on that forecast in one of his tweets, the Bitcoiner explained that this prediction should not be expected to come true instantly, like after the Bitcoin ETF was given the green light. What he meant is that the overall fundamentals of the Bitcoin market have changed compared to how they were before.
In a tweet posted today, Mow stated that the price of Bitcoin is not dependent on ETF approval and increases on its own and at its own pace.
This article was originally published on U.Today.
