Cryptocurrency

Bitcoin advocate Samson Mow unveils MicroStrategy’s major strategy, shedding light on its secret.

Samson Mow Reveals Major ‘Secret’ of MicroStrategy

Samson Mow, a prominent figure in the Bitcoin community and the CEO of Jan3, a Bitcoin-focused company aiming to assist nation-states with Bitcoin adoption, recently took to Twitter to shed light on the significant role of Bitcoin in the success of major companies like MicroStrategy.

He also took a swipe at the second-largest cryptocurrency by market cap.

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Mow’s Insights on MicroStrategy and Tether’s Success

Mow believes that companies such as MicroStrategy and Tether have achieved significant market capitalization by solely betting on Bitcoin within the cryptocurrency market. MicroStrategy has been consistently adding substantial amounts of BTC to its balance sheet since August 2020, with an impressive $8.7 billion worth of Bitcoin currently in its possession, surpassing the company’s market capitalization by $1 billion. Tether, on the other hand, has acquired a Bitcoin stash of $380 million in the last quarter, holding a total of 66,465 BTC.

Mow emphasized the importance of Bitcoin compared to the second-largest cryptocurrency, Ethereum.

Mow’s Take on Ethereum and Bitcoin

Mow criticized Ethereum, likening the “Bitcoin-Ethereum” pair to the “gold-silver” analogy. He stated that “silver is poor man’s gold,” while “Ethereum is fool’s Bitcoin.” Additionally, Mow has been vocal about his expectation for Bitcoin to reach $1 million, highlighting that the cryptocurrency’s price is not solely dependent on ETF approval and rises at its own pace.

This article was originally published on U.Today

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