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Bitcoin -Maximalistic Samson Mow has doubled its value criticism Ethereum’s priceThe claim of ETH is still overvalued, despite the price of Bitcoin Almost Quadrupling since 2022. The Jan3 CEO referred to the striking inequality in performance between the two top cryptocurrencies for almost three years of width.
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Price gap grows as Bitcoin rises
According to data, Ethereum is now at $ 1,558, essentially the same as the price of August 2022 of $ 1,600. In the meantime, Bitcoin has risen from $ 21,500 to $ 82,302-a striking increase of 270%. The growing gap has served only to strengthen MOW’s statement That the price of Ethereum does not correlate with its basic principles.
MOW tweet his mail this week on August 23, 2022 to emphasize his steadfast attitude. His criticism focuses on delivery variations between the cryptocurrencies. Bitcoin has less than 21 million total coins, while Ethereum has 122 million circulating tokens.
#Thereum is overvalued.
1 BTC = $ 21.5k
1 ETH = $ 1.6k21m BTC Supply (actually less)
122m ETH Supply (72m premined)Adapted for unit bias (ETH price at 21m units) An ETH would be $ 9.3k.
So some people pay $ 9.3k per unit of something that is pressed 60% by thin air.
– Samson Mow (@excellion) August 23, 2022
‘60% beaten from thin air ‘Claim focuses on the origin of Ethereum
Based on MOW’s quotations, around 72 million ETH tokens (approximately 60% of the offer) were performed at the time of the launch of Ethereum. Token Creation Before the start of public mining has been a problem for purists in cryptocurrency for some time.
Possibly the Bitcoin -Maximist suggested that if 21 million coins would be everything in the delivery for Ethereum as in BitcoinThen every ETH would be appreciated today at around $ 9,300. MOW again focuses on investors in Ethereum and says that they pay too much for an active whose stock is exaggerated.
Sensitive to macro -economic forces
Ethereum recently fell to a multi -year low of $ 1,380 on the back of the tensions of the global rate trading war. The Cryptocurrency immediately bounced back to $ 1,680 on April 9 after the US President Donald Trump had declared a three -month rate increase over different countries, with China being the exception.
These movements illustrate how both cryptocurrencies are still sensitive to macro -economic forces, even if they have different value propositions and market performance.
Ether down in the last week. Source: Coingecko
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Long -term campaign against Ethereum continues
This is not the first time that Mow Ethereum criticizes. He has been vocally against ETH for years. In November 2024 he warned investors that Ethereum’s fate could be the same as their favorite tokens.
MOW, that Bitcoin predicts $ 1 million this year, has told investors to sell everything, including Ethereum, and instead to invest in Bitcoin.
The debate underlines deeply rooted differences in Cryptocurrency investment philosophies. While Bitcoin -Maximalists such as MOW focus on scarcity and bitcoin’s “Digital gold” Status, Ethereum supporters emphasize the smart contract skills of the platform and a broader applications ecosystem.
As the price difference between the two leading cryptocurrencies continues to expand, these debates with regard to relative value and suitable price models are more interested by investors and common market analysts.
Featured image of Reuters, Graph of TradingView