Bitcoin Maximalist and CEO Samson Mow, the popular Maximalist of the Jan3 company, has bolstered Ethereum’s old jab, noting that ETH is overvalued at the $1,600 price mark.
The outspoken Bitcoin maximalists commented today, resurfaceting an old tweet they published on August 23, 2022 regarding ETH ratings.
Mow’s views on Ethereum evaluation
At the time, ETH was trading around $1,600 per coin. This is the same level of Ethereum traded today. Meanwhile, Bitcoin was traded at $21,500 in 2022 at the time, and today it’s worth around $80,000.
Interestingly, Mow, which expects Bitcoin to reach $1 million this year, highlighted that ETH is overvalued proportionally to Bitcoin’s valuation. He still maintains his emotions today, even as the gap between Bitcoin and Ethereum has grown even further.
Ethereum is still overrated. https://t.co/4oeqacqmlv
– Samson Mow (@excellion) April 10, 2025
Mow suggested that Bitcoin has a total supply of less than 21 million BTC, probably due to the loss of keys. However, he noted that of Ethereum’s total supply, 72 million of these coins existed for the first time.
Interestingly, he suggested that if 21 million coins are being supplied, ETH is worth $9,300 per coin. Reap Shaded Ethereum investors to pay a premium price of $9,300 to win one ETH, referring to the adjusted calculation.
“Ethereum is still overrated.”
Almost three years after the original tweet, Mow is reinforcing the idea that Ethereum prices are still overvalued. This shows that Ethereum’s price does not appear to be justified by its supply, and that Mow claims that 60% is “covered from thin air.”
At press, ETH was $1,579 per coin, up 5.41% over the last 24 hours. The second-largest cryptocurrency, traded around $1,800 territory earlier this week, plummeted to a multi-year low of $1,386 yesterday due to escalating tensions from the tariff war.
Shortly after hitting this level, ETH recovered to a high of $1,687 on April 9th.
Eth takes on around $1,600, as it did on August 23, 2022, while Bitcoin is changing hands at $81,332. The current price of Bitcoin represents a 278.28% increase from the $21,500 mark traded that day. Nevertheless, Mow claims that Ethereum remains overrated.
CEO Jan3 has been blaming Ethereum for many years. In November 2024, he warned Memecoin investors that “what happened to Ethereum” is likely to happen to their favorite tokens. Therefore, he advised them to sell everything, including ETH, and buy Bitcoin.
