Samson Mow Declares ETH, XRP, and SOL Overvalued Relative to Bitcoin
JAN3 CEO and entrepreneur Samson Mow has sparked controversy after stating that Ethereum, XRP, and Solana are way overpriced when compared to the fixed supply framework of Bitcoin.
Altcoins Don’t Compare to Bitcoin’s Scarcity, Mow Asserts
Mow makes his case on the basis of “unit bias”—a psychological bias to favor cheap-looking coins based on their low individual prices.
“You can buy one twenty-one millionth of the supply of BTC for ~$85,000,” he shared on X, highlighting that Bitcoin’s capped supply of 21 million coins gives it natural scarcity that most altcoins lack.
To drive his point home, Mow calculated the implied price of other coins if they had the scarce supply of Bitcoin. By dividing each altcoin’s market cap by 21 million, he arrived at these figures:
- Ethereum: ~$9,200
- XRP: ~$5,800
- Solana: ~$3,400
All of which are well above prevailing spot prices—suggesting, in Mow’s view, that they are overvalued levels on the basis of psychology rather than fundamentals.
Predicting Growing Bitcoin Dominance
“Those alts can’t be worth that much,” Mow asserted, forecasting Bitcoin dominance “is going so much higher.”
Bitcoin currently commands 63.71% of all cryptocurrency market dominance, TradingView reports. That is up by an unbelievable amount over the past year:
- 14.48% year-over-year increase
- 9.15% rise in half a year
- 3.76% rise over the last month
Mow anticipates that the trend will continue because the market is working through what he sees as undeserved altcoin prices.
Altcoin Supply Models Vary Widely
Bitcoin has a fixed supply of 21 million coins, with new supply diminishing around once every four years. In comparison:
- Ethereum has changed to a deflationary model following EIP-1559, burning some of its transaction fees.
- XRP was pre-mined with 100 billion tokens, half of which are in circulation.
- Solana uses an inflationary model, though the inflation rate declines over time.
Mow contends these models lack the scarcity that underpins Bitcoin’s value, further justifying his comparison.
A Reframing of Value Perception
Mow’s twist is to educate investors about how perception bends reality. “$XRP is only $2 but Bitcoin’s too expensive at $85,000!” he mocked, identifying how unit bias “is absolutely destroying the ignorant.”
As people become more perceptive about dominance and supply, Mow believes altcoins will be held more accountable—and quite possibly, revised.
