FX.co ★ Samson Mow considers BTC risk-off asset

Samson Mow, former Chief Strategy Officer at Blockstream and CEO of Jan3, posed an interesting question: what attracts investors to Bitcoin? The businessman tried to analyze the role of risk in BTC’s dynamics. Undoubtedly, these are important things. Studying them will help understand the prospects of the leading digital asset.

According to Mow, Bitcoin is primarily appealing to long-term investors. They are not looking to earn money quickly trading the first cryptocurrency but are ready to play the long game. These investors are the least concerned about BTC’s volatility, focusing instead on its long-term potential. Such traders consider Bitcoin a stable asset.

Mow cited Michael Saylor, a co-founder and executive chairman of MicroStrategy, as an example. Saylor publicly promised to hold onto his BTC for 100 years.

Mow also noted that the first cryptocurrency is crucial for people living in countries with high inflation and authoritarian regimes. The businessman emphasizes that for such people, Bitcoin is a means of economic freedom that boosts purchasing power. He believes this type of investor quickly absorbs the Bitcoins available on the market.

Recently, the Jan3 CEO stated that BTC had the potential to reach the $1 million mark, despite the current market downturn. However, Mow believes that the number of coins released from the bankrupt MtGox exchange that will hit the market is unlikely to exceed 20%.

Previously, positive predictions about Bitcoin were made by American entrepreneur Robert Kiyosaki, author of the bestseller “Rich Dad Poor Dad.” He has repeatedly called the leading digital asset a hedge against risks, capable of protecting investors from the devaluation of fiat currencies and economic turmoil. Recently, the bestselling author once again recommended that market participants buy more gold, silver, and Bitcoins.