Renowned Bitcoin advocate and CEO of Jan3, Samson Mow, a company dedicated to facilitating Bitcoin adoption by nation-states, recently took to Twitter to emphasize the pivotal role of Bitcoin in the success stories of major companies like MicroStrategy and Tether.
Mow pointed out that companies such as MicroStrategy and Tether, responsible for the USDT stablecoin, have achieved significant market capitalization by exclusively embracing Bitcoin within the cryptocurrency landscape. MicroStrategy, led by Michael Saylor, has been consistently adding substantial amounts of Bitcoin to its balance sheet since August 2020, accumulating an impressive $8.7 billion worth of Bitcoin, surpassing the company’s market capitalization by $1 billion.
Tether, a major player in the stablecoin market, has also contributed to its success by acquiring an additional $380 million worth of Bitcoin in the last quarter alone. As of the latest update, Tether holds a substantial 66,465 BTC.
In contrast to Bitcoin’s success, Mow took a swipe at Ethereum, the second-largest cryptocurrency by market capitalization. In a tweet, Mow likened the “Bitcoin-Ethereum” dynamic to the “gold-silver” relationship, stating that “silver is poor man’s gold,” while “Ethereum is fool’s Bitcoin.”
Mow has consistently voiced optimistic predictions for Bitcoin’s future, including an expectation for its price to reach $1 million. Clarifying this forecast, he explained that the projection should not be anticipated to materialize immediately, such as after the approval of a spot Bitcoin ETF. According to Mow, the overall market fundamentals for Bitcoin have undergone a transformative shift.
In a separate tweet, Mow asserted that the price of Bitcoin is not contingent on ETF approval, emphasizing that it ascends independently and at its own pace. His statements reflect a staunch belief in Bitcoin’s intrinsic value and resilience within the cryptocurrency landscape.
