In a recent interview, MicroStrategy founder Michael Saylor expressed his belief that Bitcoin (BTC) cannot be confiscated by the US government. He criticized OG Bitcoiners who prefer to hold their private keys, comparing their fears of confiscation to gold hoarding in the 1930s. Samson Mow, CEO at JAN3, responded by referring to the executive order 6102 issued in 1933, which limited private ownership of gold in the US. Mow suggested that history may repeat itself and the government could lock custodial BTC into approved custodians, reducing its utility and driving down its price. He argued that although the US is not backed by Bitcoin, the government has an incentive to attack it due to its limited supply.
- Content Editor ( u.today )
- 2024-10-22
Here's How Government Can "Confiscate" Your Bitcoin: Samson Mow