Samson Mow, a well-known Bitcoin supporter and CEO of JAN3, has once again expressed his critical views on Ethereum and its ability to compete with Bitcoin. In his recent posts, he raises questions regarding the rising amount of Ethereum being unstaked and its implications.
Ethereum Unstaking Surge
In a recent post on X, Mow emphasized that the amount of Ethereum earmarked for unstaking continues to grow. He believes that this figure will soon reach 1,000,000 ETH, which translates to approximately $3.9 billion. In the last four days, the number of Ethereum set to be withdrawn has increased by 141,388. In this context, Mow expressed doubts about Ethereum ever flipping Bitcoin.
Bitcoin ETF Situation
However, data from analysts shows that Bitcoin ETFs currently hold 6.38% of the total BTC supply, while Ethereum ETFs hold 5.08%. At the current pace of inflows, it is anticipated that Ethereum ETFs could surpass Bitcoin in terms of total supply share by September.
Mow's Position on MSTR
Additionally, Mow commented on the recent uncertainty surrounding Strategy and its MSTR stock, noting that despite the wave of negative news, he continues to hold his assets. Currently, the share price of MSTR has fallen by more than 12%, yet the company is still aggressively increasing its Bitcoin reserves, which is seen as a positive sign for its supporters.
Therefore, Mow maintains his confidence in Bitcoin despite the rise of another crypto project—Ethereum, while also keeping his investments in Strategy stock.
