Samson Moe, former CSO of Blockstream, founded by cryptologist and cypherpunk Adam Back, and now CEO of Jan3, a company focused on Bitcoin adoption. , joined the X/Twitter social media network and shared some bullish remarks about Bitcoin.
Additionally, Mo shared his views on Coinbase and criticized its role as a Bitcoin custodian, as the platform was chosen by several issuers of the Spot Bitcoin ETF.
Mow’s Important Bitcoin Statement
Now, the Jan3 boss has reminded the global crypto community about the Bitcoin halving scheduled for April this year and what he expects to happen afterward: Bitcoin’s supply shock.
This seems especially true for Mo, as Wall Street’s biggest hedge funds, including BlackRock, Fidelity, Ark Invest, and VanEck, have recently been buying up all the Bitcoin they can get their hands on.
This was before the Securities and Exchange Commission approved the launch of a Spot Bitcoin ETF on January 11th. Additionally, even after these ETFs began trading, these companies continued to accumulate flagship cryptocurrencies in terms of market capitalization.
In a tweet published at the end of December, Moh tweeted that he expects a Bitcoin supply shock to encounter a Bitcoin demand shock in the near future. While Spot Bitcoin ETF issuers continue to accumulate Bitcoin, other investors are also demanding it, and Mo believes this is the point where these two “Bitcoin shocks” meet.
Bitcoin has fallen below $40,000 to date and was trading at $39,879 at the time of writing, having previously soared nearly 2%.
Mow’s thoughts on Bitcoin storage in Coinbase and ETFs
Earlier today, Samson Mo also spoke out regarding the crypto custodian role the exchange has for spot-based Bitcoin ETF issuers (BlackRock, Franklin Templeton, Grayscale). , published a post about Coinbase.
Mo believes there are problems with using the leading crypto exchange as a BTC custodian. The problem, according to Samson, is that Coinbase doesn’t have a well-developed Bitcoin infrastructure since it’s also busy with altcoins.
Mow predicts that some exchange-traded fund makers will either build their own infrastructure to hold Bitcoin in the future or move away from Coinbase to other custodian platforms in the coming quarters. ing.
