Entrepreneur and JAN3 CEO Samson Mow has reignited the Bitcoin maximalist debate with a fresh perspective on altcoin valuations. According to Mow, leading cryptocurrencies like Ethereum (ETH), Solana (SOL), and XRP are significantly overvalued when assessed using Bitcoin’s fixed supply as a benchmark.
Unit Bias and Bitcoin’s Scarcity Model
Mow’s primary argument centers around combating what he calls “unit bias”—the psychological tendency of investors to view lower-priced assets as “cheaper” without considering supply dynamics.
“You can buy one twenty-one millionth of the BTC supply for ~$85,000,” Mow wrote on X (formerly Twitter), referencing Bitcoin’s hard-capped supply of 21 million coins.
To illustrate his point, Mow calculated the equivalent value of a “one twenty-one millionth” slice of other crypto networks based on their market capitalization divided by 21 million. His findings suggest sharp overvaluation compared to Bitcoin:
- Ethereum: ~$9,200
- XRP: ~$5,800
- Solana: ~$3,400
These numbers, Mow argues, are out of line with the actual market prices and reflect how altcoins exploit high token supplies to appear affordable.
“XRP is only $2 but Bitcoin is too expensive at $85,000!” he wrote sarcastically. “Unit bias is absolutely destroying the uninitiated.”
Bitcoin Dominance on the Rise
Mow’s broader thesis is that Bitcoin dominance—its share of the total crypto market cap—will continue to rise as market participants recognize the unique value proposition of BTC’s scarcity.
“No way these alts are worth that much,” he concluded. “Bitcoin dominance is going so much higher.”
As of now, Bitcoin dominance sits at 63.71%, according to TradingView, marking strong growth over several timeframes:
- +14.48% over the past year
- +9.15% in the last six months
- +9.71% year-to-date
- +3.76% in the past month
How Supply Models Compare
Mow’s critique highlights the differences in supply mechanics across major blockchains:
- Bitcoin has a fixed cap of 21 million coins, with issuance slowing every four years via halvings.
- Ethereum has transitioned to a deflationary model post-EIP-1559, burning a portion of transaction fees.
- XRP has a pre-mined total supply of 100 billion tokens, with around 50% currently in circulation.
- Solana uses an inflationary model, though its issuance rate decreases over time.
These supply dynamics, Mow argues, create misleading perceptions for new investors. By reframing crypto valuations through Bitcoin’s fixed supply lens, he hopes to foster a more informed investment mindset.
Final Thoughts
Samson Mow’s take is a bold reminder of the ongoing ideological split between Bitcoin maximalists and the broader crypto community. While some investors embrace the diversity and utility of altcoins, Mow insists that Bitcoin’s scarcity and simplicity remain unmatched.
As debates over fair valuation, tokenomics, and investor psychology continue, Mow’s “unit bias” framework is likely to fuel more discussion especially as Bitcoin’s dominance rises and altcoins compete for attention in a maturing market.
