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Cryptocurrency News Articles

Samson Mow Says the Window to Accumulate Bitcoin Is Rapidly Closing: Here's When It's Too Late to Buy BTC

Dec 18, 2024 at 09:30 pm

Renowned Bitcoin maximalist Samson Mow, the former CSO at Adam Back's Blockstream and currently the CEO of JAN3 and a few other companies, believes that

Samson Mow Says the Window to Accumulate Bitcoin Is Rapidly Closing: Here's When It's Too Late to Buy BTC

Samson Mow, a Bitcoin maximalist and former CSO at Blockstream, believes that the time to accumulate Bitcoin is running out. He points out Michael Saylor's recent Bitcoin purchases, saying that Saylor is aware of the closing window for BTC accumulation.

In a tweet on Friday, Mow commented on MicroStrategy's latest Bitcoin purchases, highlighting Saylor's strategy and the urgency to acquire BTC.

"Saylor is hitting the ATM hard because he knows the window to accumulate Bitcoin is rapidly closing. Lower your time preference," Mow tweeted, referring to the acronym ATM as "Accumulate, Time, Machine."

He went on to say that those who still plan to buy Bitcoin, whether they be large entities or retail investors, should lower their time preference and act quickly before Bitcoin's price rises to a point where only a select few can afford to buy it.

In another tweet, Mow addressed the common thesis that "Bitcoin is still early." He commented on a tweet by a Bitcoiner, who mentioned that their coworker asked if it was still not too late to buy BTC.

"If they have to ask, it's still early," Mow tweeted in response, regarding the coworker's question.

However, he further stated that the time to buy Bitcoin would be considered "late" once it either fully replaces the U.S. dollar or becomes its official equivalent in the U.S., indicating that prices and bills would be measured in Satoshis.

"It will be late when your utility bill arrives and it's denominated in sats," Mow added in a comment.

Throughout this year, Samson Mow has shared a prediction that Bitcoin will soon cross a line in terms of price and adoption, after which users will only be able to earn BTC, not buy it. This week, Bitcoin soared to reach a new all-time high above the $107,000 mark.

News source:u.today

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Other articles published on Dec 19, 2024