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Samson Mow Releases Crucial Statement on Bitcoin (BTC): Details
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Samson Mow, Bitcoin maximalist and CEO of Jan3, published a BTC-themed post on his Platform X account that triggered a wave of heated responses from the Bitcoin community.
Today, Mow revisited his post published Monday evening, adding a super bullish Bitcoin price prediction.
Mow’s bullish statement on Bitcoin
Samson Mowthe head of the Jan3 company focused on Bitcoin adoption, published a diagram showing the proportion of capital available on the market compared to Bitcoin, in terms of that available in circulation and potentially mintable through mining.
There are no figures in this diagram, but it visually highlights that the amount of BTC available is small compared to the amount of available capital that can be used to purchase them. Both the capital and Bitcoin are depicted in the shape of a triangle and together they look like an hourglass.
Mow tweeted today that “as you watch the price of Bitcoin drop, just remember where it will inevitably go,” thus making a bullish prediction for the price of BTC. Mow is one of the maximalists who expects the world’s flagship cryptocurrency to eventually reach the Price level of $1 million per coin.
However, Mow also shared surprise at Bitcoin’s current decline, despite the incredible level of adoption that can be observed now: “It’s strange to see the price of #Bitcoin drop when we are at an unprecedented level of adoption. BTFD !” BBTFD, as he explained in the comments on that tweet, stands for “buy the friendly dip”.
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The Bitcoin community reacts
Many Bitcoin fans, in the comments on the tweet with the diagram, pointed out that in reality the available capital triangle should be much larger and the available BTC triangle much smaller.
Mow responded that it is worth taking a closer look at the larger capital triangle, and then it will become obvious that “‘Available Capital’ goes beyond the boundaries of the diagram.”
Bitcoin drops further
Over the past 24 hours, Bitcoin has seen a sudden drop of nearly 4%, plummeting from the $70,000 price level it managed to regain on Monday to $67,453, where it is trading at the time of writing.
Over the weekend, BTC suffered a similar price drop, falling from over $71,660 to $69,000.