Prominent Bitcoin supporter and JAN3 boss Samson Mow has endorsed the world’s largest cryptocurrency in his latest tweet, underscoring the feature that ensures Bitcoin’s scarcity.
Bullish tweet on Bitcoin scarcity by Mow
Samson Mow shared a short video with his brief participation, which reminds the community that there are only 21,000,000 Bitcoins. This makes is scarcer than gold and silver and, as Mow pointed out in the video and then repeated in his tweet, “Bitcoin is the hardest asset on the planet.”
#Bitcoin is the hardest asset on the planet. pic.twitter.com/cOdV85pMjR
— Samson Mow (@Excellion) September 28, 2024
Earlier this year, Samson Mow multiple times stressed Bitcoin’s scarcity as a major factor that is likely to drive the BTC price to the record level of $1 million per coin. The other triggers, which are already in play, according to the JAN3 boss, are spot Bitcoin ETFs scooping up massive amounts of this asset and the halving that took place in April. After that event, Bitcoin block rewards dropped from 6.25 to 3.125 BTC.
Mow believes that a moment will come when the supply shock caused by the halving and the demand shock gradually triggered by the ETFs are bound to clash and push Bitcoin to $1 million.
JAN3 CEO looks forward to “Uptober”
On Friday, Samson Mow supported his former boss and Satoshi Nakamoto “associate,” CEO of Blockstream Adam Back, who tweeted that he was ready for “Uptober.” Mow responded, saying, “We’re ready. Send it.”
Historically, October has been a bullish month, along with November and with a “Santa Claus rally” in December to follow. Within the trading community it is known as “Uptober,” when leading assets in both crypto and conventional markets go up in prices.
Several recent developments are hinting that “Uptober” could actually be imminent. The first one took place last week on Wednesday, when the Fed chairman Jerome Powell announced the slash of the interest rate by 50 basis points for the first time in the last four years. The Chinese central bank (PBOC) followed suit.
Another bullish driver is that on Friday, the co-founder and former CEO of the Binance exchange Changpeng Zhao was released after his four months term. Many believe that this is likely to drive Bitcoin and BNB prices up. Today, he posted his first tweet in four months, saying simply “gm,” which is short for “good morning.”
gm
— CZ 🔶 BNB (@cz_binance) September 28, 2024