Crucial Bitcoin (BTC) Warning Issued by Samson Mow

Yuri Molchan

Blockstream CSO addressed Bitcoin community with important message

Samson Mow, CSO of Blockstream and CEO of Pixelmatic, has taken to the X app (formerly known as Twitter) to deliver his message about the world’s flagship cryptocurrency Bitcoin to the global community.

Similar messages issued to Bitcoin and DOGE holders

Mow has addressed the common problem of losing crypto by investors due to the poor security of intermediary platforms (crypto exchanges, in particular) and urged all Bitcoin holders to withdraw their BTC from exchanges or other custody services to their own cold wallets. Only in this case, “the Bitcoin you bought really exists,” he warned Bitcoiners in a recently published X post.

The only way to know that the #Bitcoin you bought really exists is to withdraw from the exchange or service to your own wallet.
— Samson Mow (@Excellion) October 12, 2023

Recently, the Dogecoin team issued a similar warning through the official DOGE account of the X platform. The team stated that the centralized exchange and DeFi have been engaged in a high level of various “questionable activities” and are demonstrating “shady behavior.” All of these platforms, the X post states further, “put users at risk by exposing them unwittingly to the funding of illicit and controversial sociopolitical or criminal schemes.”

Therefore, the DOGE team recommends that Dogecoin holders withdraw their meme crypto from exchanges and hold their coins in self-custody wallets, such as Trezor, Coinbase Wallet and others, as well as decentralized exchanges.

BTC miners making grand sell-off

Since Monday, Oct. 9, the leading cryptocurrency Bitcoin has lost 4.19%, falling from the $27,972 level to $26,800, where it is changing hands at the moment. According to data shared by IntoTheBlock, one of the major reasons for this enormous price drop is BTC miners dumping their coins at an alarming rate.

Per this data source, this week, miners have sold the largest chunk since April – 20,000 BTC. They began selling Bitcoins when the prices were high in order to produce money to cover their operational costs from mining.

About the author

Yuri Molchan

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets.

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at [email protected].

Source: https://u.today/crucial-bitcoin-btc-warning-issued-by-samson-mow