Crucial Bitcoin (BTC) Warning Issued by Samson Mow

Samson Mow, CSO of Blockstream and CEO of Pixelmatic, has taken to the X app (formerly known as Twitter) to deliver his message about the world’s flagship cryptocurrency Bitcoin to the global community.

Similar messages issued to Bitcoin and DOGE holders

Mow has addressed the common problem of losing crypto by investors due to the poor security of intermediary platforms (crypto exchanges, in particular) and urged all Bitcoin holders to withdraw their BTC from exchanges or other custody services to their own cold wallets. Only in this case, “the Bitcoin you bought really exists,” he warned Bitcoiners in a recently published X post.

Recently, the Dogecoin team issued a similar warning through the official DOGE account of the X platform. The team stated that the centralized exchange and DeFi have been engaged in a high level of various “questionable activities” and are demonstrating “shady behavior.” All of these platforms, the X post states further, “put users at risk by exposing them unwittingly to the funding of illicit and controversial sociopolitical or criminal schemes.”

Therefore, the DOGE team recommends that Dogecoin holders withdraw their meme crypto from exchanges and hold their coins in self-custody wallets, such as Trezor, Coinbase Wallet and others, as well as decentralized exchanges.

BTC miners making grand sell-off

Since Monday, Oct. 9, the leading cryptocurrency Bitcoin has lost 4.19%, falling from the $27,972 level to $26,800, where it is changing hands at the moment. According to data shared by IntoTheBlock, one of the major reasons for this enormous price drop is BTC miners dumping their coins at an alarming rate.

Per this data source, this week, miners have sold the largest chunk since April – 20,000 BTC. They began selling Bitcoins when the prices were high in order to produce money to cover their operational costs from mining.

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Yuri Molchan