Gold

<p>The famous Bitcoin activist from Asia and the current CEO of JAN3, Samson Mow, has encouraged the Japanese government to buy 167,000 BTC tokens.</p> 
<p>After a talk during the Bitcoin and Layer 2 event in Japan, Mow persuaded the country to buy the prime asset in a tweet. The goal of the conference, which was organized by Fulgure Ventures, Crypto Garage, and Blockstream, was to encourage the acceptance of Bitcoin in Japanese states.</p> 
<p>Attendees at the conference included notable figures from financial technology companies, regulators, and large banks in Japan. Mow talked on Bitcoin’s growth, scarcity, and financial ramifications during the session.</p> 
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   <p lang="ja" dir="ltr">In my talk, <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> Growth and Scarcity ビットコインの成長と不足, I set a target for Japan to acquire 167,000 BTC. That is roughy the value of Japan’s 846 tons of gold. As a country that values hard assets, it makes sense for Japan to hold the hardest asset in existence.<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f34a.png" alt="🍊" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f48a.png" alt="💊" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1ef-1f1f5.png" alt="🇯🇵" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/QKq9SbT4QQ">https://t.co/QKq9SbT4QQ</a> <a href="https://t.co/INs780VmQk">pic.twitter.com/INs780VmQk</a></p>— Samson Mow (@Excellion) <a href="https://twitter.com/Excellion/status/1837902172560019887?ref_src=twsrc%5Etfw">September 22, 2024</a>
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<h2 class="wp-block-heading" id="h-mow-pushes-japan-to-add-bitcoin-to-its-gold-reserve"><strong>Mow Pushes Japan To Add Bitcoin To Its Gold Reserve</strong></h2> 
<p>Samson Mow’s recommendation for Japan to invest in Bitcoin comes after his examination of the country’s gold holdings. To support his arguments, Mow argues that Bitcoin may have a similar function of diversifying and insulating national assets as Japan’s gold reserves.</p> 
<p>He suggests, that to hedge the economic volatility, Japan may include it in 846 tonnes of gold. And that is a very small part of its forex reserves. Mow goes on to defend his analogy between the limited quantity of cryptocurrency and that of gold. </p> 
<p>He claims that Bitcoin is the “hardest asset in existence.” Additionally, Mow talked about the ramifications, including Bitcoin in the nation’s reserve assets, at a recent closed-door meeting with Junichi Kanda, Japan’s Minister of State for Financial Services.</p> 
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   <p lang="en" dir="ltr">JAN3 CEO Samson Mow met with Mr. Junichi Kanda, Parliamentary Vice-Minister of the Cabinet Office. They discussed the potential for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> in Japan, nation-state adoption around the world &amp; implications of US Strategic Bitcoin Reserves. Thank you <a href="https://twitter.com/Jun1CanDo?ref_src=twsrc%5Etfw">@Jun1CanDo</a> for welcoming us! <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1ef-1f1f5.png" alt="🇯🇵" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/dpnhrB3Gq6">pic.twitter.com/dpnhrB3Gq6</a></p>— JAN3 (@JAN3com) <a href="https://twitter.com/JAN3com/status/1836993173035585656?ref_src=twsrc%5Etfw">September 20, 2024</a>
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<h2 class="wp-block-heading" id="h-regulatory-challenges-may-hinder-digital-asset-growth"><strong>Regulatory Challenges May Hinder Digital Asset Growth</strong></h2> 
<p>However, the Asian government has lately established restrictions that limit the creation of digital assets. The industry’s growth has been partly stifled by strict rules. Such rules as the onerous procedures for registration as a crypto asset exchange service provider (CAESP), among others.</p> 
<p>On the other hand, indications of possible future hikes in the interest rates have been suggested by the Bank of Japan (BOJ) in the following months/periods. This economic shift could affect the cryptocurrency market in some way. That is never the target though, to stabilize Japan’s currency and decrease inflation.</p> 
<p>Increased interest rates reinforce the value of the dollar. They reduce the appeal of Bitcoin as an alternative investment, contrary to what Samson Mow suggested.</p> 
<p>Higher interest rates strengthen the national currency and make BTC less attractive as an alternative investment like proposed by Samson Mow.</p> 
<h2 class="wp-block-heading" id="h-bhutan-becomes-the-fourth-largest-government-holding-btc"><strong>Bhutan Becomes The Fourth-Largest Government-Holding BTC</strong></h2> 
<p>Notably, Bhutan now ranks fourth among governments holding Bitcoin, with assets over $700 million. Bhutan has amassed its Bitcoin holdings by making aggressive investments in cryptocurrency mining. The same is aided by the hydroelectric resources of the nation.</p> 
<p>Despite Samson Mow’s drive for Bitcoin acceptance, gold enthusiast Peter Schiff recently discussed yet another record high for gold. Schiff contends that changes in conventional safe-haven assets like gold are overshadowed by the market’s concentration on Bitcoin.</p> 
<p>Furthermore, Samson Mow had previously asserted that <a href="https://www.thecoinrepublic.com/2024/09/18/bitcoin-fiat-price-will-always-grow-says-jan3-ceo-samson-mow/">Bitcoin’s fiat price will remain volatile</a> yet always rise over time. Mow had also <a href="https://www.thecoinrepublic.com/2024/09/07/bitcoin-advocate-samson-mow-tells-winning-move-as-btc-price-drops/">stated some winning moves</a> with the BTC price.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/09/24/samson-mow-urges-japan-to-buy-167000-btc-to-match-gold-reserves/">Samson Mow Urges Japan to Buy 167,000 BTC to Match Gold Reserves</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Samson Mow Urges Japan to Buy 167,000 BTC to Match Gold Reserves

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