A vocal Bitcoin supporter, Samson Mow is the CEO of BTC-focused company Jan3 and former CSO of Adam Back’s company Blockstream. Mow promotes the idea within the community that Bitcoin will definitely reach the level of 1 million US dollars in terms of price.
A vocal Bitcoin supporter, Samson Mow is the CEO of BTC-focused company Jan3 and former CSO of Adam Back’s company Blockstream. Mow promotes the idea within the community that Bitcoin will definitely reach the level of 1 million US dollars in terms of price.
Samson Mow makes “Bitcoin ETF confession”
Jan3’s CEO tweeted that he owns some energy stocks and Bitcoin ETFs, apparently referring to spot ETFs, which have been trading since their approval in mid-January by the Securities and Exchange Commission.
Spot exchange-traded funds (ETFs) allow users to invest in Bitcoin and track its spot price without holding BTC directly, sparing them from all the problems that come with holding BTC: potential losses to hackers and scammers. , the need to maintain the wallet password. security, etc., by simply purchasing shares of those ETFs.
On January 11, the SEC approved the launch of these ETFs, the largest of which was launched by BlackRock – IBIT. Bitcoin inflows into these funds have been huge since their inception. On March 15, total inflows into nine of them comprised 1,434 BTC worth $97.15 million. BlackRock added much more: 4,967 BTC valued at over $336.5 million, and the IBIT currently contains 228,613 BTC equivalent to approximately $15.5 billion.
Mow sells MicroStrategy “Bitcoin shares”
Additionally, Mow claimed that he had sold his shares in MicroStrategy (MSTR), the company run by Bitcoin evangelist Michael Saylor. Since August 2020, he has been steadily purchasing Bitcoin with cash and adding BTC to his balance sheet.
Five days ago, the company acquired another huge amount of BTC of 12,000 coins, paying $821.7 million for it at an average price of $68,477 per coin. This Bitcoin was purchased with proceeds from convertible notes and the company’s additional cash reserves. Now, MicroStrategy holds a total of 205,000 BTC worth almost $10 billion.
As Guru-Investingreported on Friday, the company announced a new debt offering to acquire even more Bitcoin for long-term storage on its balance sheet. Selling Mow’s MSRT in favor of Bitcoin ETFs seems like a step taken by a person who prefers to be as close to BTC as possible. Furthermore, as an “original gangster”, Mow is likely to have a large amount of Bitcoin directly.
