Bitcoin Maximalist Samson Mow Critiques Ethereum’s Overvaluation

Samson Mow, CEO of JAN3, has reiterated his view that Ethereum (ETH) remains overvalued despite Bitcoin (BTC) rising nearly 270% since 2022. He highlights a significant performance gap between the two cryptocurrencies.

Price Disparity

  • Ethereum currently priced at $1,558, similar to its August 2022 value of $1,600.
  • Bitcoin increased from $21,500 to $82,302 in the same period.
  • Mow argues that Ethereum's price does not reflect its fundamentals.

Mow pointed out the supply difference: Bitcoin has under 21 million coins, while Ethereum has around 122 million circulating tokens.

Criticism of Ethereum's Supply

  • Mow claims approximately 60% of the ETH supply was premined at launch.
  • If Ethereum had a maximum supply like Bitcoin, each ETH would be valued around $9,300.

Ethereum recently dropped to $1,380 but quickly rebounded to $1,680 following a pause in US tariff hikes. This illustrates both cryptocurrencies' sensitivity to macroeconomic factors.

Continued Critique of Ethereum

  • Mow has consistently criticized Ethereum over the years.
  • He predicts Bitcoin could reach $1 million this year and advises investors to sell Ethereum in favor of Bitcoin.

The ongoing debate reflects differing investment philosophies between Bitcoin maximalists and Ethereum supporters, especially as the price gap widens.