US Begins Constructing Bitcoin 'Fort Nakamoto': Samson Mow

Samson Mow, the CEO at JAN3, has published an X post to talk to the Bitcoin community about the Strategic Bitcoin Reserve (SBR), and why the BTC price is currently plunging, instead of printing an Omega candle.

Mow also praised the fact that the actual cryptocurrency reserve includes nothing but Bitcoin, while altcoins – ADA, SOL, XRP and ETH – have been added to the U.S. national stockpile separate from the SBR.

Here’s why Bitcoin is falling now, Mow explains

Since Friday, a day after Donald Trump signed an executive order to establish a U.S. Strategic Bitcoin Reserve, Bitcoin has been slapped with an 11.28% crash, falling from $90.470 and landing on $80,270. On Sunday, BTC made an attempt to rise, adding slightly more than 4%, but today the flagship cryptocurrency rebounded back to the same level it started from – $80,270.

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Mow addressed the question that many are asking now – why did Bitcoin go down after the executive order was signed and not soar at least above $100,000 (which Max Keiser predicted to happen on Friday).

Mow offered a good 10 causes pushing the Bitcoin price down. The main one, however, is that, per Mow, “when people are willing to sell BTC for cheaper and cheaper, the price goes down.” And then, there are a number of factors, he says, impacting why people are willing to sell for cheaper. Among them is BTC market sentiment, black swan events, sentiment from other markets, liquidations, stop-loss hunting and several others. Another big one was “selling the news,” and it was another big reason why, Mow believes, the Bitcoin price went down.

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“Enter Fort Nakamoto”

Mow wrote that the establishment of the Bitcoin Reserve is a “complete game-changer,” referring to it as “Fort Nakamoto,” as is Fort Knox where the strategic gold reserve is kept. An audit of the U.S. government’s digital holdings will help to identify exactly how much Bitcoin “Fort Knox” holds now and, after that, Mow added, Secretary of Commerce Howard Lutnick will start thinking of strategies to add Bitcoin to it without using the state budget. So far, the government is believed to hold roughly 200,000 BTC confiscated from illegal activities in the past 10 years.

Mow believes that once the U.S. begins accumulating Bitcoin, other nation-states will immediately follow suit.

Source: https://u.today/us-begins-constructing-bitcoin-fort-nakamoto-samson-mow