Samson Mow recalled that at the end of the week, the stock market lost about $3 trillion, and investors overestimated their own portfolios. According to the businessman, therefore, investments in spot bitcoin ETFs fell first, and it is not worth being surprised at the significant outflow of funds from exchange-traded products based on the first cryptocurrency:
"I consider bitcoin to be a double-edged sword. Its rate falls first, but it turns out to be the only asset remaining in the black."
The CEO of Jan 3 stressed that bitcoin should still be perceived as a profitable investment tool, and it is pointless to reason in terms of faith in relation to the first cryptocurrency. The reason: bitcoin held up well during the market sell-off on August 2, 2024 and forecasts of a drop in the value of the asset below the critical support mark of $ 55,000 did not materialize.
Earlier, Samson Mou said that bitcoin could still reach $1 million, despite the drop in quotations on the market.