Samson Mow of Bitcoin adoption firm JAN3 has responded to Goldman Sachs CEO David Solomon’s recent remarks on Bitcoin. During an interview at the Paris Olympic Games, Solomon was cynical about Bitcoin but admitted that it might be a store-of-value asset.
Mow’s response, an image from “Game of Thrones” with the caption “Bend the knee,” captures the current discussion about Bitcoin.
Goldman Sachs CEO Sees Bitcoin as Store of Value
In an interview with CNBC, David Solomon discussed Bitcoin and said that he considers it a speculative investment. While Solomon doubted its usefulness, he agreed that it could be used as a store of value. His comments follow ongoing debates concerning Bitcoin’s place in the financial system.
Solomon’s recognition of Bitcoin’s store-of-value narrative is a gradual change in approach. He continues to argue that Bitcoin has no real application other than speculation, which starkly opposes the more optimistic perspective held by Bitcoin advocates.
Samson Mow Shares Meme on Bitcoin Future
In response to Solomon’s comments, Samson Mow shared a “Game of Thrones” meme on social media. The meme, which says “Bend the knee,” implies that more institutions may start recognizing Bitcoin in the near future. Mow’s post best captures his positive attitude toward Bitcoin, notwithstanding the volatile market environment.
Samson Mow has earlier stated that Bitcoin may rise to $1 million in the next year. His prediction is grounded on the assumption that institutional acceptance will rise greatly. The meme thus acts as a provocative statement for his bullish view.
BTC Price Drops After US Government Sell-Off
Bitcoin has recently dropped from $70,000 to $65,770. This drop was due to the US government dumping a large amount of Bitcoin that it had seized from the Silk Road dark web marketplace. The sentiment in the market remains bearish, with Bitcoin’s price currently hovering around $65,952.
The recent drop in Bitcoin prices has also been associated with a drop in trading volumes. The trading volume of BTC declined to $28.18 billion by 28.15%, which indicates that the current bearish trend may continue in the near future.
Michael Saylor Highlights BTC as a Treasury Asset
Michael Saylor, the Executive Chairman of MicroStrategy, has also shared his thoughts on Bitcoin as a treasury asset. At the Bitcoin 2024 conference, he pointed out that more and more companies are buying Bitcoin for their treasuries.
This is why many companies follow in MicroStrategy’s footsteps and use Bitcoin as a strategic asset.
