U.Today – , former CSO of Blockstream (he resigned on March 22 this year), took to Twitter/X to make an important statement. He addresses rigid bitcoin and other crypto maximalists who oppose the use of the bitcoin layer-2 chain called Liquid Bitcoin.
Defending Liquid Bitcoin from haters
The Liquid Bitcoin (L-BTC) network was created by Blockstream and enables fast and seamless settlement and issuance of crypto assets – stablecoins, security tokens and others – on top of the bitcoin chain.
Mow stated that people who hate and criticize Liquid Bitcoin do not even realize that in the future they will still end up indirectly using the Liquid Bitcoin infrastructure anyway. Basically, it was a veiled warning that their criticism is in vain. The former Blockstream CSO explained that Liquid Bitcoin is being adopted by various popular services (without naming any as an example), which are integrating it for settlement and rebalancing.
After that, he stated that he wanted to focus on helping entire nations and states adopt bitcoin. It was Mow and Blockstream who were behind the issuance of “Volcano BTC Bonds” backed by bitcoin. Prior to that, the state had adopted BTC as its national currency a few years ago. When Mow left Adam Back’s company, it sparked speculation within the cryptocurrency community as to which country would adopt bitcoin next (perhaps with Mow’s help).
Mow bets on bitcoin to reach $1 million
In several tweets published recently, Mow expressed his view on the future performance of bitcoin, stating that he expects the flagship cryptocurrency to eventually reach. When bitcoin recently recaptured the $44,000 level, pushing ethereum and other top altcoins higher, Mow commented that this bull run is different from what the market has seen before.
Now, he said, we are about to see the collision of the bitcoin supply shock with the demand shock. He expects the upcoming bitcoin halving to ensure that the supply shock happens. The expert pointed out that financial institutions are now accumulating BTC en masse in anticipation of their bitcoin ETF filings being approved by the SEC very soon.
This week, representatives from four funds that plan to issue ETFs met with the regulator – BlackRock (NYSE:BLK), Fidelity, Franklin and Grayscale.
