U.Today – Samson Mow, a vocal supporter and CEO of JAN3, commented on a recent statement regarding Senator Cynthia Lummis’ suggestion at the Bitcoin 2024 conference to transfer US Federal Reserve bank reserves from Treasury bonds to Bitcoin over the next five years. This would amount to 1,000,000 BTC – 5% of the circulating supply of Bitcoin.
Paul Vigna, co-author of The Age of Cryptocurrency, also commented on the suggestion, and Mow essentially responded by quoting Vigna’s tweet in his own post.
Mow’s Statement on “Bitcoin Volatility”
Vigna wondered why the Federal Reserve would want to swap its Treasury reserves for Bitcoin, calling the former “the safest asset in the world” and the latter “the most volatile.” The author wondered what benefit this would bring to the Federal Reserve.
Mow responded to this by saying that he sees this as the beginning of conversations about whether Bitcoin is a reserve asset or not. The JAN3 boss shared his expectations, saying that “preconceptions about what is a ‘safe asset’ and what is ‘volatile’ will be shattered in the coming months.” Perhaps this is another statement of “super bullish Bitcoin news” that he promised last week, saying it would become known in the next few days.
Overall, Mow believes that Bitcoin will certainly soar to $1 million per coin within the next year. On Saturday, he tweeted that he does not expect the US dollar to exist until 2045.
Mow Doubles Down on His Mega-Bullish BTC Forecast
Last week, Samson Mow made an bullish prediction for Bitcoin, tweeting that the cryptocurrency community should say goodbye to “under 0.07 million Bitcoins forever.” Today, the Bitcoin maximalist revisited that tweet and reposted it, adding an “eyes” emoji to it.
This is because the global flagship digital currency has gained around 3.7% in the last 24 hours and has come very close to reclaiming the $70,000 price level. There was one particularly immense hourly green candle that pushed Bitcoin up 1.45%. At the time of writing, BTC is trading in the $69,500 zone. As for the slightly bigger picture, Bitcoin is up 8.57% since last Thursday, gradually climbing from a price of $64,030.
