Crucial US Bitcoin Reserves Statement Made by Samson Mow

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As a seasoned crypto investor with a decade-long journey through the digital asset wilderness, I find myself both excited and intrigued by recent developments. Samson Mow’s bullish take on Senator Cynthia Lummis’ proposal to amass one million Bitcoins as strategic reserves echoes my own sentiments. I firmly believe that this move will not dampen Bitcoin’s growth trajectory; instead, it might even propel us towards the elusive $1 million mark.

Samson Mow, CEO of JAN3 and well-known Bitcoin supporter, expressed his optimistic view on U.S. Senator Cynthia Lummis’ proposal to acquire a massive 1 million Bitcoins and create strategic reserves of the leading cryptocurrency, which he shared on the X social media platform (previously known as Twitter).

Are future US Bitcoin reserves priced in? Mow shares take

Mow, head of JAN3, a company specializing in assisting nations to adopt Bitcoin, asserts that “strategic Bitcoin reserves may not impact the price,” implying they won’t hinder Bitcoin’s growth, and it might still surge to $1 million.

Strategic #Bitcoin Reserves are not priced in.

— Samson Mow (@Excellion) August 1, 2024

Frequent debates arise prior to significant events that could impact Bitcoin’s price. The latest discussion surrounded the fourth Bitcoin halving, which took place on April 20 this year. This event cut miner’s block reward in half – from 6.25 to 3.125 BTC.

At the Bitcoin 2024 conference held in Nashville, United States not long ago, Cynthia Lummis revealed some important news. Notable attendees included Mike Novogratz, a prominent Bitcoin investor and head of Galaxy Digital fund, Michael Saylor, founder of MicroStrategy (the largest corporate Bitcoin holder), Cathie Wood, CEO of Ark Invest, Edward Snowden, a former NSA analyst turned whistleblower, and many more.

As a seasoned investor with over two decades of experience in the financial markets, I firmly believe that Bitcoin will soon surpass the $1 million mark. My conviction is based on my extensive research and analysis of the digital currency’s growth trajectory and the increasing global demand for decentralized, secure, and borderless transactions.

Mt. Gox summarizes crypto payouts made in July

A Chinese writer specializing in cryptocurrency has disclosed that the trustee overseeing the recovery of the defunct crypto exchange Mt. Gox has so far distributed repayments to over 17,000 creditors in both Bitcoin and Bitcoin Cash.

Around six billion dollars’ worth of Bitcoin (BTC) and Bitcoin Cash (BCH) were distributed to victims who had lost their funds due to the Mt. Gox hack, first discovered in 2014. This distribution was carried out by centralized cryptocurrency exchanges, with payments made both at the beginning and end of July.

After making repayments on specified dates in July 2024 (5th, 16th, 24th), the Rehabilitation Trustee continued payments on the 31st of that month, distributing Bitcoin (BTC) and Bitcoin Cash (BCH) to numerous rehabilitation creditors via exchanges. Now, we have sent BTC and BCH to more than 17,000 rehabilitation creditors to complete these repayments…— Wu Blockchain (@WuBlockchain) August 1, 2024

In simpler terms, the latest payments have caused a nearly 9% decrease in Bitcoin’s value, moving it from around $70,000 to the area of approximately $64,000.

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2024-08-01 11:02