Samson Mow, the CEO of Bitcoin adoption-focused startup Jan3 and a former CSO of Blockstream, which was established by cryptographer and cypherpunk Adam Back, had a positive sentiment about Bitcoin on the X/Twitter social media network.
Furthermore, since Coinbase was chosen by many issuers of spot Bitcoin ETFs, Mow has aired his thoughts on the site, criticising its function as a custodian of Bitcoin.
Mow’s crucial Bitcoin statement
This time, the Jan3 CEO informed the world’s cryptocurrency community about the impending April Bitcoin halvening and the anticipated Bitcoin supply shock that follows.
https://x.com/Excellion/status/1750457212546457762?s=20
This appears to be particularly true for Mow given that large Wall Street hedge funds, like as VanEck, Blackrock, Fidelity, and Ark Invest, have been buying up all of the Bitcoin that falls under their purview.
That occurred prior to the Securities and Exchange Commission’s approval on January 11 for the introduction of spot Bitcoin ETFs. Additionally, these businesses kept accumulating the flagship cryptocurrency in terms of market capitalization value after those ETFs started trading.
Mow stated in a late-December tweet that he anticipates the supply and demand of bitcoins to coincide very soon. Spot Bitcoin ETF issuers continue to amass Bitcoin, while other investors are also searching for it. Mow thinks that this is the intersection of these two “Bitcoin shocks.”
After rising by over 2% earlier, Bitcoin has since fallen back below $40,000, currently trading at $39,879 as of this writing.
Mow’s take on Coinbase and Bitcoin custody for ETFs
Samson Mow also wrote a piece about Coinbase earlier today, discussing the exchange’s function as a cryptocurrency custodian for Blackrock, Franklin Templeton, and Grayscale, the issuers of spot-based Bitcoin ETFs.
Mow thinks there’s an issue with this big cryptocurrency exchange serving as a custodian for Bitcoin. Samson claims that because Coinbase has been so preoccupied with working with altcoins, they do not have a well-developed Bitcoin infrastructure.
According to Mow, during the next several quarters, certain exchange-traded fund companies want to either move from Coinbase to alternative custodian platforms or construct their own infrastructure for storing Bitcoin.
