Samson Mow Hints at Key Bitcoin Debate to Be Settled in the Coming Months

Samson Mow, the outspoken advocate and CEO of JAN3, recently weighed in on Senator Cynthia Lummis’s proposal at the Bitcoin 2024 conference. She suggested that the U.S. Federal Reserve should transfer its reserves from treasuries into Bitcoin over the next five years, which would involve acquiring 1,000,000 BTC—equivalent to 5% of the circulating Bitcoin supply.

Paul Vigna, co-author of “The Age of Cryptocurrency,” also commented on this notion, prompting a response from Mow, who referenced Vigna’s remarks in his own commentary.

Mow’s Take on Bitcoin Volatility
Vigna expressed skepticism about the Federal Reserve’s interest in converting its treasury reserves into Bitcoin, describing treasuries as “the safest asset in the world” and Bitcoin as “the most volatile.” He questioned the potential benefits of such a move for the Federal Reserve.

In response, Mow commented that this discussion marks the beginning of evaluating whether Bitcoin can be considered a reserve asset. He expressed optimism about changing perceptions, asserting that “the preconception of what is a ‘safe asset’ and what is ‘volatile’ will be shattered in the coming months.” This seems to hint at major developments he anticipates soon, which he referred to as “super bullish Bitcoin news” last week.

Mow is confident that Bitcoin will soar to $1 million per coin within the next year. He also tweeted that he does not foresee the existence of the U.S. dollar by 2045.

Reinforcing His Bullish Bitcoin Outlook
Last week, Mow shared a bullish prediction, suggesting that the crypto community should embrace a future where Bitcoin never trades below $70,000 again. He recently revisited this tweet, adding an “eyes” emoji to emphasize his stance.

This assertion comes as Bitcoin has seen a notable increase recently, rising approximately 3.7% over the past 24 hours and nearing the $70,000 mark. A significant upward movement was recorded in one hourly period, where Bitcoin climbed 1.45%. At the time of writing, Bitcoin was trading around $69,500, having increased by 8.57% since last Thursday when it was priced at $64,030.