Samson Mow's Big Bitcoin Warning to the Community: Details

Samson Mow, BlockStream's chief strategy officer and CEO of Pixelmatic, predicts that Bitcoin could fall into two "types" in the future. He believes this may be due to the rush of major financial institutions such as BlackRock to enter Bitcoin and launch Bitcoin spot ETFs.

"We may see a Bitcoin fork in the future"
In a recent video interview, when asked what he thinks about BlackRock and other fund managers entering Bitcoin, Samson Mow said he thinks the interest in BlackRock (the world's largest fund manager with billions of dollars in assets under management) is a good choice overall. logo, because it can serve as an indicator that Bitcoin is "an investable asset class and a reserve asset for the future."
However, he acknowledges that there is also a negative side to all the institutional "Bitcoin fever" we are seeing now. On the downside, he argues, the entry of all these financial institutions into Bitcoin could lead to a "fork of Bitcoin."

"Institutional Bitcoin" vs. "Regular Bitcoin"
Mow explained what he meant: if this happens, Bitcoin will split into "institutional Bitcoin" and "regular Bitcoin". According to Mow, such institutional bitcoins may be locked up in the system forever (held by institutions) because BlackRock and other companies will hardly give up this kind of bitcoin. Mow believes that this could lead to two different prices for BTC. In this case, "Institutional Bitcoin" may be traded at a discounted price because it is less utility than "Regular Bitcoin", which can be used anywhere cryptocurrencies are accepted.
Mow said that "free bitcoins" (relative to BlackRock-locked bitcoins) will be traded at a premium, while locked bitcoins will be withdrawn from the market. This can be compared to "burning", where cryptocurrencies, specifically meme coins, as well as Ethereum and BNB, are regularly sent to unusable blockchain wallets and can never be withdrawn.

An earlier warning to Bitcoin holders
In a previous message to the Bitcoin community, Mr. Miao urged Bitcoin holders to withdraw their cryptocurrencies from exchanges and self-custody. The reason for this is that it is "the only way to know if the bitcoin you are buying is real". Otherwise, it could be lost to hackers, or as was the case with the FTX crypto giant that collapsed a year ago.
Its founder and CEO, Sam Bankman-Fried, began using client funds to help keep afloat his pocket-sized trading firm, Alameda Research, but eventually both companies went bankrupt and SBF was arrested and jailed for defrauding investors.

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