Crucial Bitcoin (BTC) Security Warning Issued by Samson Mow

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As a seasoned researcher with years of experience in the cryptocurrency market, I cannot help but echo the sentiments expressed by Samson Mow, CEO of JAN3 and a vocal Bitcoin supporter. His emphasis on the importance of secure BTC storage resonates deeply with me, given my own experiences navigating this dynamic and often unpredictable digital landscape.

Samson Mow, a prominent Bitcoin advocate and CEO of JAN3 (a firm assisting countries in adopting Bitcoin), recently spoke to the crypto community regarding the matter of safely storing Bitcoin.

Even cold Bitcoin storage can be “not cold enough,” he believes.

JAN3 boss’s Bitcoin storage warning

According to Samson Mow’s tweet, it’s essential for Bitcoin holders to ensure their BTC stored in cold wallets isn’t easily accessible. This means, as he suggests, it’s important not to keep the private keys to your Bitcoin wallet at home for safety reasons.

Mow published a video, in which three thieves are pushing a large safe from a house. A safe they were unable to open, so they decided to take it away with them. “It should be difficult even for yourself to move your coins that are in cold storage,” he wrote.

As a seasoned crypto user with several years of experience under my belt, I strongly advise against keeping your Bitcoin key material at home. Over the years, I’ve learned the hard way that convenience often comes at a steep price in the world of cryptocurrency. If you can easily access your cold storage, it means it’s not secure enough. Cold storage should be difficult for even yourself to move your coins, ensuring that they remain safe from potential threats, both internal and external. Take my word on this – keep your Bitcoin key material in a secure location that is hard to reach or remember. It might save you a lot of headaches down the line.

— Samson Mow (@Excellion) August 10, 2024

Mow anticipates that the value of Bitcoin, the world’s primary digital currency, may surge towards a $1 million price point in the upcoming year, as suggested by his recent tweets. He also mentioned that an Omega candle could trigger this rise, indicating his belief that a tech titan like Apple or Warren Buffett’s Berkshire Hathaway might soon invest substantial funds into Bitcoin.

Dormant Bitcoin wallet reactivated

As reported by well-known blockchain detective Whale Alert, a long-inactive wallet holding millions of Bitcoins, which has been untouched for over a decade.

As someone who has been following the cryptocurrency market since its early days, I can confidently say that the recent news about a Satoshi-era whale resurfacing with 190 BTC is nothing short of astounding. In 2013, when this amount of Bitcoin was worth just $12,125, it seemed like an impossible fortune to me. But now, after an astronomical increase of 94668.7%, that same chunk of BTC is valued at a staggering $11,490,704. It’s hard to wrap my mind around the potential wealth this individual could have amassed if they held onto their Bitcoin for nearly a decade. The growth of Bitcoin and other cryptocurrencies has been nothing short of remarkable, and I can only imagine what the future holds for this exciting and volatile market.

An inactive Bitcoin wallet holding approximately $11.5 million (190 Bitcoins) has sprung back to life after being dormant for about 11.4 years, which would have been worth around $12,000 in 2013!

— Whale Alert (@whale_alert) August 9, 2024

Currently, Bitcoin transactions are taking place around the $60,700 mark. In the past two days, following a rise above $62,000, Bitcoin has experienced a 2.70% drop.

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2024-08-10 11:46