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Samson Mow, major Bitcoin advocate and the chief executive at Jan3, has reposted a tweet made by Jan3. In a video extract of his interview, Mow talks about CBDCs and issues a warning as to the ultimate goal of central banks in building them, and where CBDCs may lead society if the plan works out.
Samson Mow's CBDC warning
Samson Mow defined the strategy that central banks and governments have in mind as they are trying to launch CBDCs around the world as “trying to control the money so you can control the people.” This is why banks are working on their own centralized digital currencies, Mow believes.
In the interview, Mow stated that this approach is hardly going to work. However, he continued, the question is how long they will be trying to achieve the result they are seeking. Taking Nigeria as an example, Mow said that the country launched its CBDC, called eNaira, and told the population that using it was completely optional and that eNaira was launched “for your convenience, security and safety.”
However, when the country’s population showed hardly any interest to it, the first cash withdrawals from ATMs were limited from the ATMs. This has resulted in the government chasing crypto on and off-ramps and attempting to penalize cryptocurrency exchanges operating within the country.
Nation-states would cause serious harm to their citizens if CBDCs are adopted.
— JAN3 (@JAN3com) June 3, 2024
The goal is for governments to embrace a new technology which simply can't be stopped.#Bitcoin pic.twitter.com/Or54t8w487
It does not really work, Mow believes, since information cannot be stopped, he stated, and “Bitcoin is unstoppable.” Now, the Jan3 boss wonders if the government of Nigeria intends to put people in jail for owning Bitcoin or not.
Mow is concerned about whether countries are going to turn into totalitarian or authoritarian regimes now, in an attempt to stop people from using Bitcoin and crypto in general.
Bitcoin to hit $1 million definitely, Mow believes
Around a week ago, Mow shared his take on his X account, stating that Bitcoin reaching $1 million is a question of time (“a when, not an if”). The Bitcoin advocate started actively tweeting about this after the spot Bitcoin ETFs were approved by the SEC in January and the Bitcoin halving event was approaching.
Back then, Mow tweeted that the ETFs began to create a Bitcoin demand shock, which would inevitably meet the Bitcoin supply shock to be created by the halving.