Samson Mow, the promoter of Bitcoin legalization in El Salvador: The German government is considering buying back BTC

This site (120btC.coM): Since June 19, German government-related wallets have successively transferred nearly 50,000 Bitcoins to exchanges and market makers such as Coinbase, Kraken, and Bitstamp for sale until last weekend. The sale by the German government is considered to be one of the main reasons for the recent decline of Bitcoin in addition to the start of repayment by the Mt. Gox exchange.

However, soon after the German government completed the liquidation, starting from the 14th of this week, the cryptocurrency market experienced a strong rebound. After breaking through the US$60,000 mark, it jumped all the way, and even exceeded US$66,000 on the 17th. The highest reached $66,117.

Samson Mow, the promoter of Bitcoin legalization: The German government is considering buying back BTC

Recently, Samson Mow, the promoter of Bitcoin legalization in El Salvador, revealed on the X platform that he and Joana Cotar, a member of the German Bundestag, will cooperate in October to propose a plan A plan to allow Germany to regain access to at least 50,000 Bitcoins previously sold by the German government and to promote nation-state Bitcoin adoption strategies.

Samson Mow and Joana Cotar jointly stated that conversations with the German government have contributed to plans to buy back Bitcoin. However, they are not the only ones pushing for this plan because of the recent influx of Bitcoin into spot Bitcoin ETF products, which may also be a factor driving the plan.

On the other hand, Samson Mow stated on the When Bitcoin reaches the level of $100,000, a new bull market may begin. He once again emphasized that this target price will be the key point for Bitcoin to enter a new round of rapid growth.

Samson Mow for Bitcoin price

Will the next bull market be a national-level mutual cut?

In terms of national-level entry into BTC, Samson Mow, as the former chief strategy officer of Blockstream, was especially an important key figure in the process of establishing Bitcoin as a legal tender in El Salvador. Mow co-authored a paper with Adam Back at the time. This letter became the catalyst for the Salvadoran government to announce this major policy.

Subsequently, they provided consulting services to the government of El Salvador on Bitcoin security and cold wallets, and participated in the formulation of relevant digital asset laws, paving the way for the issuance of Bitcoin bonds, which are seen as a way for developing countries to escape from debt distress new financial instruments. Regarding the view of small countries entering Bitcoin, Samson Mow previously stated: The key question is, are these countries under control? Some countries may be indebted to the IMF or World Bank and therefore may be reluctant to introduce Bitcoin as legal tender for fear of offending these organizations. For truly sovereign nations, however, introducing people to the Bitcoin ecosystem and familiarizing them with it may be the most beneficial thing any leader can do for his or her people.

As the U.S. president has entered the last four months, the battle between former U.S. President Trump (Donald Trump), who represents the Republican Party, and current U.S. President Joe Biden (Joe Biden) has entered a fever pitch, as Trump supports encryption Currency stance, the market is beginning to bet that Trump’s victory will create a regulatory environment conducive to the growth of cryptocurrency, which may prompt other “observing” countries to follow suit, and a crypto war may begin between countries. Currency "arms race" to avoid falling behind in the new economic competition.

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