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The Bitcoin Maximalist Samson Mow has doubled on his value criticism of the Ethereum Prize, claiming that the ETH is still overvalued despite the almost quadrupling price of Bitcoin since 2022. The CEO of Jan3 has referred to the blatant disparity of performance between the two best cryptocurrencies over a range of three years.
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The price difference increases as Bitcoin increases
According to data, Ethereum is now at $ 1,558, essentially the same as its August 2022 price of $ 1,600. Meanwhile, Bitcoin went from $ 21,500 to $ 82,302 – an increase of 270% of the eyes. The widening of the gap has only strengthened MOW’s assertions according to which the price of Ethereum is not in correlation with its fundamentals.
Mow re-tweeted his post on August 23, 2022 this week to highlight his constant position. His criticisms focus on the variations in supply between cryptocurrencies. Bitcoin has less than 21 million global parts, while Ethereum has 122 million tokens in circulation.
#Ethereum is overvalued.
1 BTC = $ 21.5
1 ETH = $ 1.6K21m Supply BTC (actually less)
122m ETH Supply (72m premium)Adjusted for the unit bias (ETH price at 21 m 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% struck from the claim of the clause “target the origins of Ethereum
Based on MOW quotes, approximately 72 million ETH tokens (around 60% of the offer) were preminated at the time of the launch of Ethereum. The creation of tokens before the start of public exploitation was a whole problem for cryptocurrency purists for some time.
Perhaps the Bitcoin maximalist suggested that if 21 million pieces were all, there would be food for Ethereum as in Bitcoin, each ethn would be evaluated today at around $ 9,300. Mow again targets investors in Ethereum, saying that they pay too much for an asset whose supply is exaggerated.
Sensitive to macroeconomic forces
Ethereum recently fell to a multi -year hollow of $ 1,380 on the back of global tariff business war tensions. The cryptocurrency immediately referred to $ 1,680 on April 9 after US President Donald Trump declared a three-month tariff pause in various countries, China being the exception.
These movements illustrate how the two cryptocurrencies are always sensitive to macroeconomic forces, even if they have different value proposals and market performance.
Ether down in the last week. Source: Coingecko
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A long -standing campaign against Ethereum continues
This is not the first time that Mow criticizes Ethereum. He has been expressed against ETH for years. In November 2024, he warned investors that Ethereum’s fate could be the same as their favorite tokens.
Mow, who plans that Bitcoin reaches $ 1 million this year, investors told everything, including Ethereum, and invest in Bitcoin.
The debate highlights the deep differences in the investment philosophies of cryptocurrencies. While Bitcoin maximalists such as MOW focus on Bitcoin’s rarity and “Digital Gold” status, Ethereum supporters highlight the intelligent contractual capacities of the platform and the ecosystem of broader applications.
While the price differential between the two main cryptocurrencies continues to develop, these debates concerning the relative value and the appropriate price models arouse greater interest from investors and common market analysts.
Reuters star image, tradingview graphic
