Samson Mow, a vocal Bitcoin maximalist and CEO of BTC-focused company JAN3, has once again taken a jab at the second-largest cryptocurrency, Ethereum, and rejected Tom Lee’s recent statement that ETH could eventually flip BTC.
Mow has produced a major argument to support his ETH vs. BTC statement.
Ethereum will never flip Bitcoin: JAN3 boss
Following a statement by Bitcoin permabull Tom Lee from Fundstrat, Samson Mow disagreed, saying that he does not believe Ethereum will ever flip Bitcoin. However, Mow hinted that in two weeks, a massive amount of funds could outflow Ethereum since the unstaking date is coming.
The screenshot posted by Mow shows that 768,400 ETH are waiting to be unstaked in 13 days and 8 hours. He kindly mentioned the fiat equivalent to that, which is a mind-boggling $3,500,000,000: “The flippening will never happen but the unstakening is coming.” This unstaking means potential market pressure of the value of ETH.
Mow hinted that these funds could easily flow into Bitcoin and made a price forecast: “ETHBTC could revert to 0.03 or lower.”
Mow believes that BTC is staggering at the moment since market attention is mostly on altcoins. However, he added in a recent tweet: “Once the altcoin mania passes, Bitcoin will take off. This is just how it’s always been.”
Tom Lee faces backlash for supporting ETH
The above-mentioned Tom Lee, who used to advocate only Bitcoin, has recently begun saying that he expects ETH to flip BTC and got a massive backlash from the BTC community as BitMine Immersion Technology (BMNR), where Lee is now the chairman, has turned into an Ethereum treasury company and has been accumulating a lot of ETH, while still carrying a BTC logo.
Lee believes that ETH is undervalued and should be trading at around $6,000 per coin at the moment. Ethereum has recently surpassed first $4,000 and then went on to reclaim $4,700.
Two further Bitcoin scenarios from Mow
Earlier this week, Samson published a tweet, suggesting two possible scenarios for the Bitcoin price. First is that BTC prints a Godzilla or Omega candle, pushing altcoins down 30-40%.
The second one is that once the alt mania reaches its peak, it triggers a massive sell-off, and then “BTC goes down briefly then up again, as alts tank.”