Samson Mow Teases Crucial Bitcoin Argument to Be Resolved Within Coming Months

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As a seasoned crypto investor with a deep understanding of the industry, I’ve witnessed Bitcoin’s transformative journey over the past decade. Samson Mow’s recent comments on the potential conversion of U.S. Federal Reserve reserves to Bitcoin have piqued my interest. The suggestion, put forth by Senator Cynthia Lummis at the Bitcoin 2024 conference, could mark a significant turning point in the acceptance and recognition of Bitcoin as a reserve asset.

Samson Mow, a prominent Bitcoin advocate and CEO of JAN3, has responded to Senator Cynthia Lummis’ proposal at the Bitcoin 2024 conference for transferring the U.S. Federal Reserve banks’ reserves into Bitcoin over a five-year period, equating to around 1 million BTC or roughly 5% of the total circulating supply.

Paul Vigna, a co-author of “The Age of Cryptocurrency” book, made a related remark. In response, Mow referenced Vigna’s tweet in crafting his own statement.

Mow’s statement on “Bitcoin volatility”

Vigna mused over the reasoning behind the Federal Reserve’s potential switch from holding traditional treasuries reserves to investing in Bitcoin. He characterized treasuries as “the most secure financial asset” and contrastingly depicted Bitcoin as “the most unstable currency.” The author was left pondering the advantage such a move could bring to the Federal Reserve.

Mow reacted to that comment by indicating that it marked the initiation of discussions surrounding Bitcoin’s role as a reserve asset. JAN3’s leader expressed his anticipation, stating, “The long-held notions of what constitutes a ‘safe asset’ and what signifies ‘volatility’ will be challenged in the upcoming months.” This could potentially be yet another instance of the highly bullish Bitcoin predictions he hinted at last week, which are set to be revealed within the next few days.

Discussions about using Bitcoin as a reserve asset are gaining traction. Traditional notions of “safe assets” versus “volatile” investments may be challenged in the upcoming months.

— Samson Mow (@Excellion) July 28, 2024

Mow is convinced that the price of Bitcoin will soar past $1 million per coin within the next twelve months. In a recent tweet on a Saturday, he predicted that the US dollar may no longer be in use by 2045.

Mow doubles down on his mega-bullish BTC prediction

Last week, Samson Mow expressed his bullish outlook on Bitcoin by tweeting that the crypto community should prepare to bid farewell to Bitcoin prices below $0.07 million. This week, he revisited this statement and reposted it with a “eyes” emoji to emphasize his confidence in Bitcoin’s future value.

👀

— Samson Mow (@Excellion) July 29, 2024

Over the past day, the leading digital currency on a global scale experienced a growth of around 3.7%. It nearly reached the $70,000 mark, with an impressive hourly surge of 1.45% that took place at one point. Currently, Bitcoin is being traded in the vicinity of $69,500. Looking at the bigger picture since last Thursday, Bitcoin has experienced a significant rise of 8.57%, steadily climbing from its initial price of $64,030.

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2024-07-29 15:22