Bitcoin Advocate Warns About Central Bank Digital Currencies, Predicts Bitcoin to Reach $1 Million

According to U.Today, Samson Mow, a prominent Bitcoin advocate and CEO of Jan3, has issued a warning about Central Bank Digital Currencies (CBDCs) and their potential impact on society. Mow believes that the ultimate goal of central banks in creating CBDCs is to control money and, by extension, the people. He expressed his doubts about the success of this approach, questioning how long they will continue to strive for this result. Using Nigeria as an example, Mow highlighted the country's launch of its own CBDC, eNaira. Despite the government's assurance that the use of eNaira was optional and for the convenience, security, and safety of the population, the response was lukewarm. This led to the government limiting cash withdrawals from ATMs and attempting to penalize cryptocurrency exchanges operating within the country. Mow believes that the adoption of CBDCs could cause serious harm to citizens and that governments are trying to embrace a technology that cannot be stopped. Mow also expressed concerns about the potential for countries to become totalitarian or authoritarian regimes in an attempt to prevent people from using Bitcoin and other cryptocurrencies. He questioned whether the Nigerian government intends to imprison people for owning Bitcoin. In addition to his warning about CBDCs, Mow also predicted that Bitcoin will definitely reach $1 million. He believes this is a matter of when, not if. Mow began actively tweeting about this prediction after the approval of spot Bitcoin ETFs by the SEC in January and as the Bitcoin halving event approached. He suggested that the ETFs would create a Bitcoin demand shock, which would inevitably meet the Bitcoin supply shock caused by the halving.