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Bitcoin Maximalist Samson Mow has doubled his value criticism of Ethereum’s priceclaims ETH is still overvalued despite Bitcoin’s award almost quadrupled since 2022. The Jan3 CEO referred to the dazzling difference in performance between the two top crypto courses over a nearly three-year period.
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The praise grows when bitcoin rises
According to data, Ethereum is now $ 1,558, essentially the same as its August 2022 price of $ 1,600. At the same time, Bitcoin has climbed from $ 21,500 to $ 82 302-a-eye-catching 270% increase. The broadening gap has only served to strengthen Mow’s statement that Ethereum’s price does not correlate with its basic factors.
Mow tweeted his post on August 23, 2022 this week to emphasize his steady attitude. His criticism focuses on delivery variations between Cryptocurrencies. Bitcoin has less than 21 million total coins, while Ethereum has 122 million circulating tokens.
#Eteum is overvalued.
1 BTC = $ 21.5K
1 ET = $ 1.6K21m BTC Supply (actually less)
122 m ETH Delivery (72 m Preminated)Adjusted for unit bias (ETH price at 21m units) an ETH would be $ 9.3,000.
So some people pay $ 9.3,000 per unit of something that is 60% printed from thin air.
– Samson Mow (@Excellion) August 23, 2022
‘60% coined out of thin air ‘claims is directed to the origin of Ethereum
Based on Mow’s quote, approximately 72 million ETH tokens (about 60% of the supply) premiered at Ethereum’s launch. Token creation before the start of public mining has been a fairly issue for purists in Cryptocurrency for some time.
Possibly Bitcoin Maximalist suggested that if 21 million coins were all it would be in the range of Ethereum as in BitcoinThen each ETH would be valued today at about $ 9,300. Mow is again aimed at investors in Ethereum and says they pay too much for an asset whose supply is exaggerated.
Macroeconomic forces
Ethereum recently fell to a multi -year low low at $ 1,380 on the back of global customs war stresses. Cryptocurrency immediately bounced back to $ 1,680 on April 9 after US President Donald Trump declared a three-month tariff break in different countries, where China was the exception.
These movements illustrate how both crypto prices are still sensitive to macroeconomic forces, even though they have different value proposals and market performance.
Ether down in the last week. Source: Coingecko
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Long -term campaign against Ethereum continues
This is not Mow’s first time that criticizes Ethereum. He has been a voice against ETH for several years. In November 2024, he warned that the fate of Ethereum could be the same as their favorite cook.
Mow, who predicts Bitcoin to hit $ 1 million this year, has told investors to sell everything, including Ethereum, and invest in bitcoin instead.
The debate emphasizes deep sitting differences in Cryptocurrency’s investment philosophies. While Bitcoin -Maximalists like Mow focus on scarcity and Bitcoin’s “Digital gold” Status, Ethereum supporters highlight the platform’s smart contract capacity and wider application ecosystem.
As the price difference between the two leading cryptocoirs continues to expand, these debates on relative value and appropriate pricing models draw greater interest from investors and market analysts jointly.
Image from Reuters, charts from TradingView
