- Samson Mow states max pain for financial systems will shoot up when BTC goes up.
- Mow believes that Bitcoin can end up as a risk-off asset.
- The Bitcoin supporter states that BTC HODLers will not face max pain.
The avid Bitcoin supporter and the CEO of JAN3, Samson Mow, recently tweeted about his thoughts on the present market conditions. He spoke about the entire financial system in general and shared his thoughts about “Max Pain.”
Mow stated that the entire legacy of the financial system will endure max pain when the price of BTC shoots up. He stated that in such a situation, all the funds that are shorting Bitcoin to hedge TradFi long positions will be erased completely.
Max pain for the entire legacy financial system is for #Bitcoin to go up massively. All the funds shorting Bitcoin to hedge TradFi long positions will get wiped out. That’s why it’s going to happen.— Samson Mow (@Excellion) October 13, 2022
Mow stated that all financial sectors are enduring max pain, including pension funds, liquidity crisis, bond yields, currency depreciation, and recession.
He stated that BTC has already been pushed down to the limit and that it has already been de-risked. Mow also added that BTC has held up at a time when the banks are confused about what to do with the whole chaos.
Mow believes that if BTC makes a big move, the entire financial system could dip into further max pain. This could be risky for funds, especially if it decouples. This could push out the safe players who are shorting BTC against equities.
The Bitcoin supporter acknowledges that in such a situation, the price of BTC will be pushed to even higher levels and that it can stabilize. This can also attract investment from institutions and pension funds as there is no other last resort for them.
As per Mow’s thoughts, it can make BTC a risk-off asset. However, he also assured investors that BTC HODLers will endure no max pain. Mow also compares BTC HODLers to those “living in an impenetrable monetary fortress.”
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