Bitcoin fell after dropping below $60,000 overnight, but Bitcoin supporter Samson Mow (샘슨 모우) struck an optimistic tone.

U.Today, a blockchain outlet, reported on Tuesday that bitcoin fell more than 4 percent on the day, losing the $60,000 level seen as a key support. Liquidations across the broader crypto market topped $850 million.

The decline reflected weakness in the spot market, and crypto-related stocks also slipped. Strategy (MSTR) fell to levels not seen since February 2024, and other digital asset-related names, including STRC, also stayed weak. The broader market showed bitcoin’s sharp drop also pressuring altcoins and related stocks.

Even as markets slid, Mow maintained his optimism. He said bitcoin’s fundamentals had not changed, describing it as neutral, permissionless and bearer money controlled directly by its holder.

Mow stressed that bitcoin remains the best hope for the future. He argued that hyperbitcoinization is inevitable as long as expanded issuance of fiat money continues. The remarks were interpreted as placing more weight on possible long-term changes in the monetary system than on short-term price moves. With market sentiment extremely depressed, his comments were taken as rare optimism.

He focused in particular on the possibility that Adam Back’s Bitcoin Standard Treasury Company (BSTR) could buy bitcoin. The recent plunge has enabled BSTR to buy up to 25,400 BTC, and its total holdings were expected to exceed 55,000 BTC. Mow saw the market as overlooking the possibility of this large institutional buying.

A sharp drop in South Korean stocks was also cited as a backdrop to the pullback. The KOSPI on Monday fell by more than 900 points, close to 10 percent. The decline deepened as foreign selling concentrated on large chipmakers and technology shares, and the shock was seen as having partly affected weakness in the crypto market.

In this situation, market attention is focused on whether selling pressure will continue, or whether expectations of institutional buying will support the downside. With bitcoin failing to regain the $60,000 level, the next variables are whether it can stage a short-term rebound and whether BSTR will execute actual purchases.

The fundamental value proposition for Bitcoin hasn’t changed at all: neutral, permissionless, bearer money. It’s the best hope for the future and hyperbitcoinization is inevitable because continued fiat money printing is an absolute certainty.