In the interview, Mow stated that this approach is hardly going to work. However, he continued, the question is how long they will be trying to achieve the result they are seeking. Taking Nigeria as an example, Mow said that the country launched its CBDC, called eNaira, and told the population that using it was completely optional and that eNaira was launched “for your convenience, security and safety.”
However, when the country’s population showed hardly any interest to it, the first cash withdrawals from ATMs were limited from the ATMs. This has resulted in the government chasing crypto on and off-ramps and attempting to penalize cryptocurrency exchanges operating within the country.
It does not really work, Mow believes, since information cannot be stopped, he stated, and “Bitcoin is unstoppable.” Now, the Jan3 boss wonders if the government of Nigeria intends to put people in jail for owning Bitcoin or not.
Mow is concerned about whether countries are going to turn into totalitarian or authoritarian regimes now, in an attempt to stop people from using Bitcoin and crypto in general.
Back then, Mow tweeted that the ETFs began to create a Bitcoin demand shock, which would inevitably meet the Bitcoin supply shock to be created by the halving.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
