Samson Mow, a Bitcoin maximalist and the CEO of a Bitcoin-focused company Jan3, continues to ‘educate’ ‘normies’ on Bitcoin. Today, he took to his Twitter/X page to reveal to them a list of bullish Bitcoin factors they are unaware of.
What \'normies\' don\'t know about Bitcoin per Mow
Mow tweeted six important drivers of the Bitcoin price in the long term, adding that “normies don’t know” about them, “but they will” he is certain.
This list includes the supply-demand imbalance for the world’s leading digital currency, the approaching Bitcoin halving in April (and even the explanation of what a halving is and how it works, what it does). Mow says that ‘normies’ are unaware of Bitcoin’s limited supply of 21 million. What none of them are also unaware about is the “Omega candle” Samson Mow expects to happen (without any more or less exact prediction of when he expects it). The list also includes the average net inflows of approximately half a million worth of BTC for the issuers of spot Bitcoin ETFs.
Normies don’t know:
♎️ There is a supply-demand imbalance
♎️ The average net inflows per day are $400-500M
♎️ The halving is coming
♎️ What the halving is
♎️ ♾️/21M
♎️ OmegaBut they will.
So if you’re wondering why the market is going sideways, the answer is you’re early.
— Samson Mow (@Excellion) February 17, 2024
The boss of Jan3 is positive that ‘normies’ will become aware of these important drivers (maybe even soon) and then they will rush to accumulate Bitcoin. This unawareness of ‘normies’, per Mow, is the explanation of the fact why the Bitcoin market is trading sideways at the moment - “if you’re wondering why the market is going sideways, the answer is you’re early.”
ETFs suck up $700 million in BTC in one day
According to the recent tweet published by the @lookonchain blockchain sleuth, on Friday, February 16, eight out of the eleven spot Bitcoin ETFs accumulated a mind-blowing amount of Bitcoin an a single day – 13,460 BTC equal to $701,800,000. BlackRock’s share of the accumulated Bitcoin here totalled 6,380 BTC worth $332.7 million and Fidelity’s was 3,228 BTC evaluated at $168 million.
Feb 16 Update:
8 ETFs added 13,460 $BTC($701.8M) today while #Grayscale only decreased 2,555 $BTC($133M).
#iShares(#Blackrock) added 6,380 $BTC($332.7M) and #Fidelity added 3,228 $BTC($168M).https://t.co/cOFFrgRLwg pic.twitter.com/8AeSaBxl7X
— Lookonchain (@lookonchain) February 16, 2024
These two are the largest Bitcoin ETFs among the eleven ones approved by the Securities and Exchange Commission on January 11. Grayscale’s Bitcoin supply, on the contrary, saw a decrease of 2,555 BTC worth $133 million.
This above-mentioned figure surpassed the biggest inflow seen earlier this week – $600 million. Bitcoin ETFs are buying roughly 12x of the daily issued Bitcoin supply.