MicroStrategy’s Top “Secret” Revealed by Bitcoiner Samson Mow
U.Today – Samson Mow, the great evangelist and head of the Bitcoin-oriented Jan3 company that aims to help nation-states with Bitcoin adoption, published a post on Twitter/X in which he highlights the role of Bitcoin in the success of such major companies such as MicroStrategy and .
At the same time, he analyzed the second largest cryptocurrency by market capitalization, .
Mow explains the successful strategy of MicroStrategy and Tether
Well-known Bitcoiner Mow believes that companies like MicroStrategy and Tether (issuer of the USDT stablecoin) have such a high market capitalization because they have chosen only Bitcoin to bet on among the entire cryptocurrency market.
MicroStrategy has been regularly adding large amounts of BTC to its balance sheet since August 2020, and Tether holds Bitcoin among the assets that support the supply of USDT it issues. Michael Saylor’s business intelligence giant now holds an astonishing $8.7 billion worth of Bitcoin and this, astonishingly, exceeds the company’s market capitalization of $1 billion.
Earlier this week, by the way, Michael Saylor called on the cryptocurrency community not to sell their Bitcoin, despite the continued decline in BTC prices that is occurring despite the agency’s spot ETF approval SEC regulatory body.
As for Tether, it acquired another Bitcoin stash last quarter worth $380 million in Bitcoin. At the time of writing, Tether holds 66,465 BTC.
Mow highlighted the importance of the global flagship cryptocurrency Bitcoin compared to the second largest by market capitalization value: Ethereum.
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Mow criticizes Ethereum and praises Bitcoin
In another tweet today, Mow criticized Ethereum, comparing the “Bitcoin-Ethereum” pair to the “gold-silver” pair. He stated that “silver is the poor man’s gold”, while “Ethereum is the fool’s Bitcoin”.
Mow recently tweeted about his expectations for Bitcoin to reach $1 million. Elaborating on this prediction in one of his tweets, Bitcoiner explained that one should not expect this prediction to come true immediately, like after the Bitcoin spot ETF was given the green light. What he meant was that the overall market fundamentals for Bitcoin have changed from what they were before.
In a tweet published today, Mow said that the price of Bitcoin does not depend on ETF approval and increases on its own and at its own pace.
This article was originally published on U.Today