U.Today – Samson Mow, vocal advocate and CEO of JAN3, has commented on a recent statement regarding the suggestion made by Senator Cynthia Lummis during the Bitcoin 2024 conference to transfer the US Federal Reserve banks’ reserves from Treasury bonds to Bitcoin over the next five years. That would constitute 1,000,000 BTC, 5% of the circulating supply of Bitcoin.
Paul Vigna, co-author of the book “The Crypto Age,” also commented on that suggestion, and Mow basically responded to him, quoting Vigna’s tweet in his own.
Mow's statement on “Bitcoin volatility”
Vigna wondered why the Federal Reserve would want to convert its Treasury bond reserves into bitcoins, calling the former “the safest asset in the world” and the latter “the most volatile.” The writer wondered what benefit that would provide to the Fed.
Mow responded to that, saying that he saw it as the beginning of conversations about 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 testament to the “super bullish Bitcoin news” he promised last week, saying it will be released in the coming days.
Overall, Mow believes that within the next year, Bitcoin's value will skyrocket to $1 million per coin. On Saturday, he tweeted that he doesn't expect the U.S. dollar to exist by 2045.
Mow doubles down on his mega-bullish BTC prediction
Last week, Samson Mow made a bullish prediction about Bitcoin when he tweeted that the crypto community should say goodbye to “Bitcoins under $0.07 million forever.” Today, the Bitcoin maximalist revisited that tweet and reposted it, adding an “eyes” emoji to it.
This happened as, over the past 24 hours, the world’s flagship digital currency gained roughly 3.7% and came very close to reclaiming the $70,000 price level. There was a particularly large green hourly candle that pushed Bitcoin 1.45% higher. At the time of writing, BTC is trading in the $69,500 zone. Looking at a slightly bigger picture, since last Thursday, Bitcoin has risen by 8.57%, gradually rising from the $64,030 price point.
This article was originally published on U.Today
