Samson Mow, former CSO of Blockstream and now CEO of Jan3, a company that helps nation-states adopt Bitcoin into their economies, has released an important statement about Bitcoin and why it is important for today’s society in the context of monetary technologies.
Samson Mow, former CSO of Blockstream and now CEO of Jan3, a company that helps nation-states adopt Bitcoin into their economies, has released an important statement about Bitcoin and why it is important for today’s society in the context of monetary technologies.
In particular, Mow tweeted that Bitcoin marked a massive improvement in all of financial technology – a thousandfold.
Bitcoin brings a ‘radical change’ to finance, says Mow
Bitcoin maximalist Samson Mow tweeted that he believes Bitcoin is not “marginally better” than gold or the US dollar. According to the January 3 boss, the world’s flagship cryptocurrency has been a “1,000 times greater improvement than any monetary technology devised in the entire history of humanity.”
Mow claimed that Bitcoin has brought “a radical change” to the global financial system, and added a screenshot of an online thesaurus, which means “a sudden and discontinuous change.”
When this change occurs, Mow explained, diminishing returns don’t matter. “Diminishing returns are an irrelevant concept when the entire game has changed.”
In several recent tweets, even before the Securities and Exchange Commission approved the Bitcoin Spot ETF, Mow shared his prediction, saying that Bitcoin will eventually reach the long-awaited price level of $1 million. In order to take $1 million as a reference point, he even suggested that Bitcoiner and MicroStrategy boss Michael Saylor start referring to $1 million as $0.05 million.
Still, when faced with criticism that Bitcoin did not skyrocket to the aforementioned $1 million level, Mow responded in a tweet that, in fact, he had not meant it literally, but rather intended to say that the fundamentals of the financial market have changed drastically.
In his recent tweets, Samson Mow also criticized Ethereum, calling it “stupid man’s Bitcoin,” while “silver is poor man’s gold.”
Bitcoin price continues to fall
Since January 11, the world’s flagship cryptocurrency has lost much of its value, fallen under selling pressure, and continues to decline. Since that day when the Bitcoin Spot ETFs were approved, Bitcoin has seen a drop of 16.56% in total, falling from over $49,000 to the price of $40,000.