In a recent tweet, Samson Mow, a vocal Bitcoin proponent and the JAN3 boss, warned the global cryptocurrency community about the shrinking chances by Bitcoin as financial institutions continue buying it.
As governments are gradually joining them now, a lot of BTC is going to be wiped off the market soon, Mow hints.
Samson reminded the community that Bitcoin’s supply is hard-capped at 21,000,000 coins, while “there are hundreds of trillions of dollars out there.” “Do the math,” he urged crypto investors and crypto enthusiasts.
On May 8, Mow reacted to Bitcoin surging above the $103,000 level as he tweeted that it was now “too late to buy Bitcoin under $0.1 million.” This year, US president Donald Trump signed an executive order to create a Strategic Bitcoin Reserve (SBR). It will start from the 200,000 BTC confiscated from illicit activities over the past five years and still held by the government already.
Besides, two US states, Arizona and New Hampshire, have also passed a law to establish an SBR.
As reported by U.Today, BlackRock’s spot Bitcoin ETF iShares Bitcoin Trust ETF (IBIT) has recorded almost three weeks of consecutive inflows. Bitcoin has been flowinf into it for eighteen days in succession.
On Thursday this week, IBIT absorbed $69 million, now holding roughly $69 billion in the Bitcoin equivalent (more than 572,000 BTC).
Over the past day, the world’s largest cryptocurrency, Bitcoin, has skyrocketed, stopping close to the $104,000 price level and is currently trading at $103,170 for the first time since January.
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