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Samson Mow: Bitcoin will repeat the evolution of gold
Mow emphasized that Bitcoin’s attractiveness for corporate treasuries as a store of long-term value lies in the special role of the first cryptocurrency, which combines the properties of gold and the capabilities of modern finance. According to him, Bitcoin, like gold, first gained value in the eyes of investors and companies, not by government decree.
“If we take gold, it’s not that the government suddenly declared it valuable and then its market capitalization grew to $20 trillion. No. People decided that gold was valuable, and then governments wanted to acquire it for themselves,” Mow said.
Bitcoin will also attract the attention of governments, since they always seek valuable resources, believes the founder of Jan3.
“Governments always want to gain control over what is valuable. If tomorrow bottle caps become a valuable asset, they will want those too. It’s only a matter of time,” Mow noted.
The U.S. government is already closely watching Bitcoin, which could potentially become one of the country’s strategic state assets. The national debt has exceeded $38 trillion, and Treasury bonds are losing their appeal, while Bitcoin is capable of generating liquidity and reducing the impact of inflation, Mow added.
Earlier, the chairman of the political committee of South Korea’s ruling People Power Party, Kim Sang-hoon, called on the country’s authorities to allow the launch of spot Bitcoin exchange-traded funds as soon as possible.
See also: "Santiment Points to an Alarming Signal for Bitcoin"
