On Jan3, CEO Samson Mow sharply criticized the speculative views on Bitcoin. While traders like Peter Brandt are still predicting prices to fall to $58,000-$62,000, Mow calls for attention to fundamental demand.
Bitcoin is not a trading tool, but a substitute for fiat currency.
Mow pointed out the 5 major factors that create Bitcoin's 'eternal demand':
1️⃣ Printing press: Central banks are printing fiat currency without restriction.
2️⃣ National reserves: The U.S. is discussing the possibility of establishing a strategic Bitcoin reserve.
3️⃣ Corporate debt: More and more companies are buying Bitcoin by issuing bonds (following MicroStrategy).
4️⃣ Currency devaluation: Rapid devaluation of local currencies around the world.
5️⃣ Institutional entry: Huge capital inflows brought by spot Bitcoin ETFs.
Core point: Mow believes that, in the context of a global transformation of the financial system, technical analysis is powerless. The influence of each of the aforementioned factors is rapidly increasing.
'Please plan your investments based on the fact that Bitcoin is replacing the old system, rather than merely price fluctuations,' the Jan3 leader suggested.
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