Bitcoin entrepreneur Samson Mow started a new company JAN3


Bitcoin entrepreneur Samson Mow who is a former chief
strategy officer of Blockstream and founder of Pixelmatic recently said, he has
started a new company called JAN3 which will focus on promoting Bitcoin (BTC) adoption.
As per Chinese-Canadian
Bitcoin entrepreneur JAN3 has already signed a memorandum of understanding to
assist in developing digital infrastructure in El Salvador. JAN3 has reportedly
raised $21 million in funding at a valuation of $100 million according to its
newly established Twitter account, which has a rapidly growing following of
3,300. Among the participants in the funding round was chief investment
officer of Atlanta Digital Currency Fund Alistair Milne, co-founder of crypto
mining company F2Pool Chun Wang, and El Zonte Capital, a new investment fund established
by prominent bitcoin bull Max Keiser and his wife, Stacy Herbert.
Two new jurisdictions
are adopting Bitcoin as legal tender as announced in a speech by Mow at the
Bitcoin 2022 Conference. The Caribbean island of Roatán and Madeira, an autonomous
region of Portugal are among the new jurisdictions. Also, Mexico is mentioned by
Mow but the country has not decided whether to pursue the idea.
The name
"JAN3" refers to the day Satoshi Nakamoto mined Bitcoin's first block
- also known as the "genesis block" - on January 3, 2009. Playing on
the company's name, the company's first tweet made reference to The Times'
headline that day. According to Mow, it was too early to put a monetary value on
the deal.
El Salvador’s President
Nayib Bukele and its government is working on the establishment of Bitcoin City a
development that will reportedly use geothermal power from nearby volcanoes to
power Bitcoin mining as well as the city‘s infrastructure. Mow and his new firm
will work alongside El Salvador’s President for this.
The Central American nation last month postponed its bitcoin-backed bond issue due to the invasion of Ukraine and volatility in cryptocurrency markets. Mow has worked as an advisor to President Nayib Bukele for a $1 billion bitcoin-backed bond issue Bukele proposed that Bitcoin City be created in November, which would provide tax advantages for investors and use geothermal energy.
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Indrani bose
CBW - External Analyst
INDIA