‘$1 Million Bitcoin’ Advocate Samson Mow Reveals Last Opportunity to Sell ETH
Samson Mow, the CEO of Bitcoin adoption-focused company Jan3 and a staunch advocate for a “$1 million Bitcoin,” has recently expressed his skepticism towards Ethereum-based ETFs. As the SEC prepares to announce its decision on spot Ethereum ETFs, Mow predicts that they will be outperformed by Bitcoin-based ETFs. Furthermore, he believes that now is the final chance for ETH holders to sell at a favorable price against Bitcoin, stating, “Last chance to sell ETH above 0.05 BTC.” Mow asserts that even if the SEC approves Ethereum funds, they will undoubtedly perform poorly compared to Bitcoin ETFs, especially considering Ethereum does not offer staking rewards. Mow expects the potential approval news to trigger a significant “sell the news event” in the cryptocurrency market. However, some, like VC investor Anthony Pompliano, predict that the SEC’s approval of Ethereum ETFs could signify a breakthrough for the entire cryptocurrency space in the United States.
In other news, spot Bitcoin ETFs continue to experience net inflows, as reported by analytics account @spotonchain. On May 22, these funds saw $154 million in net inflows, marking eight consecutive days of positivity—an unprecedented streak since mid-March. Leading the pack is the BlackRock fund, which received $92 million on May 21 and $291 million in the past 32 trading days, showcasing its dominance in the ETF market.
Overall, Mow’s remarks highlight his unwavering allegiance to Bitcoin and his belief that it is a more promising investment opportunity compared to Ethereum.