u.today
Anthony Scaramucci, founder of SkyBridge Capital, has taken to his X/Twitter account to publish a post about Bitcoin. He has stressed the importance of owning this leading digital currency now, after recent major developments.
He stated that holding Bitcoin is not a question of courage anymore, but it is a “question of brains” now.
It took guts to own #Bitcoin before now. From here out it’s a question of brains.
— Anthony Scaramucci (@Scaramucci) April 24, 2024
Scaramucci is likely emphasizing the fact that not only the spot ETFs have created an additional demand for BTC but also the halving event that took place on Saturday have radically reduced the amount of new Bitcoins that are now issued into circulation. Therefore, what many, including Bitcoin influencer Samson Mow, call the “supply shock” and the “demand shock” are already here, and now they are about to collide.
His tweet triggered a heated discussion within his numerous followers. Many rushed to agree with Scaramucci, sharing how happy they are to hold BTC. One user, however, reminded the financier about his investment into the FTC exchange and asked whether it was “guts or brains” that had led him to do that.
Omega candles inevitable now: Samson Mow
Former Blockstream CSO and now chief executive at Jan3, Bitcoin maximalist Samson Mow, has recently talked to Forbes about the recent Bitcoin halving and the Omega candles he now expects to occur soon.
Mow clarified to Forbes how halvings work and how miners help to release new Bitcoin onto the market. Now that the world’s flagship cryptocurrency has started on its fifth epoch, BTC block rewards have been reduced by 50% - from 6.25 BTC to 3.125 BTC. These halvings happening every four years make Bitcoin more deflationary (as opposed to the U.S. dollar and other fiat currencies) and prolong the issuance of BTC on the market.
Prior to the halving, ETFs began purchasing between 5x and 15x Bitcoin produced by miners per day (900 BTC before the halving), Mow pointed out that these purchases began to create the Bitcoin demand shock.
He now expects so-called Omega candles to start emerging soon – they are major trading candles that would mean high volatility but also big shifts in the Bitcoin price, Mow explained.
At press time, Bitcoin is changing hands at $66,392 after surging by almost 9% since the halving day.