‘$1 Million Bitcoin’ Advocate Samson Mow Issues Bullish BTC Call: Details

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As a seasoned crypto investor with a deep understanding of the Bitcoin ecosystem, I find Samson Mow’s recent statements both intriguing and cautionary. The surge in demand for Bitcoin, as evidenced by the massive daily purchases by ETFs, MicroStrategy, and Tether, is undeniably impressive. With only 450 new Bitcoins being mined each day, it seems clear that the available supply is being rapidly outpaced.

As an active Bitcoin investor and CEO of Jan3, I’ve noticed with great interest the unprecedented surge in demand for Bitcoin that far outpaces its current supply, as reported by none other than Samson Mow in a recent tweet.

As a researcher, I’ve come across some compelling evidence suggesting that a potential conflict over the world’s leading digital currency is imminent.

Bullish Bitcoin call from Jan3 boss

Expert: Bitcoiner and former CSO at Blockstream, Samson Mow, took to the X platform to caution his followers about the significant day-to-day purchases of Bitcoin by American spot ETFs.

At present, these ETFs are reportedly purchasing around 1,626 Bitcoin each day. Notably, it’s just these exchange-traded funds that have been consistently buying large amounts of Bitcoin. Additionally, Michael Saylor’s MicroStrategy and Tether are estimated to be acquiring approximately 199 BTC and 70 BTC daily, respectively.

Samson estimated that approximately 450 Bitcoins were being transacted daily since the latest halving in April. Given this figure, he believed that the total demand for Bitcoin had significantly outpaced its current supply by a factor of 5 to 10. Therefore, Samson advised the Bitcoin community to prepare for potential market developments based on this observation.

As an analyst, I’ve observed that U.S.-based Bitcoin Exchange-Traded Funds (ETFs) are purchasing approximately 1,626 Bitcoins daily. MicroStrategy, a notable company, is adding around 199 Bitcoins to its holdings each day. Tether, the stablecoin issuer, is reportedly buying roughly 70 Bitcoins per day as well. However, it’s essential to note that only about 450 new Bitcoins are mined daily. Given this information, it’s evident that the total aggregate demand for Bitcoin could be anywhere between 5 to 10 times its current supply. Therefore, proper planning and consideration are crucial.

— Samson Mow (@Excellion) May 8, 2024

New big Bitcoin conflict in sight, Mow says

In a recent interview excerpt posted by the Jan3 official account this week, Samson Mow expressed his belief that a significant Bitcoin conflict is imminent. While he couldn’t provide an exact timeline, he stated that “this upcoming one will outshine the previous one in terms of magnitude.”

From my perspective as an analyst, the recent Bitcoin disagreement can be likened to mere skirmishes between two students in a playground.

As a dedicated researcher following the dynamic world of cryptocurrency, I can’t help but notice the growing tension between two formidable forces: Bitcoin proponents and institutional investors such as Blackrock and Fidelity. The landscape is ever-evolving, with new strategies and technologies being adopted by both sides. Have you made your decision on which camp to align yourself with? Brace yourself, as this potential conflict may surface in the not-too-distant future. 🔄💥 #BitcoinWars #CryptoResearcher

— JAN3 (@JAN3com) May 9, 2024

According to Mow’s perspective, the potential for a new Bitcoin conflict arises due to the significant shifts in the Bitcoin landscape over the past few years. Bitcoin has transitioned from a niche asset to mainstream adoption, attracting larger players than ever before. While Coinbase and Bitmain were once considered major entities within the community a decade ago, entities like BlackRock and Fidelity have now entered the Bitcoin arena.

As a crypto investor, I’ve noticed that there seems to be an escalating disagreement within the community regarding Bitcoin’s block size or potentially other issues, such as implementing a travel rule. This conflict is shaping up to be significantly more intense than what we’ve experienced before – it could be 10 times or even 100 times more contentious.

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2024-05-09 11:23