Samson Mow: "This is the last opportunity to sell ETH"

Samson Mow, CEO of JAN3 and one of the most prominent Bitcoin advocates, continues to draw attention by publicly challenging the Ethereum community. Recently, he asserted that ETH hodlers are facing their "last chance" to escape their investment by switching to Bitcoin.

Mow criticizes Ethereum, advises investors to switch to Bitcoin

Samson Mow is well known for frequently criticizing Ethereum. Earlier this week, he dismissed the comments from analyst Tom Lee – who believes that ETH has the potential to surpass BTC in the future. In contrast, Mow asserted that Ethereum cannot "overthrow" Bitcoin.

He also noted that there are currently about 768,400 ETH ( equivalent to 3.5 billion USD ) waiting to be withdrawn from the Ethereum network. According to Mow, this huge influx of funds could easily be redirected to Bitcoin – the largest digital asset in the market.

In a post on X last Friday, he emphasized:

"This is the last chance to sell ETH above 0.03 BTC."

This message implies that the ETH/BTC exchange rate is unlikely to maintain its current level for long, and Ethereum may soon face a significant price drop. In fact, Mow even predicts that this transition could occur within the next two weeks.

Bold Prediction: Bitcoin Aiming for 1 Million USD

Not only stopping at the call to sell ETH, Samson Mow also continues to make optimistic predictions about Bitcoin. He believes that in this cycle, BTC has the potential to reach 1 million USD per coin – a historically significant milestone.

According to Mow, this scenario will occur when the market witnesses the emergence of the "Omega/Godzilla candle" – a metaphor he uses to describe an unprecedented explosive price increase on the Bitcoin price chart. This surge, he believes, will be driven by a combination of demand shock and supply shock:

Although the market did not explode strongly right after the halving as he had expected, Bitcoin has continuously set new highs, with the most recent milestone surpassing 124,000 USD.

Macroeconomic Context

This week, the crypto market continues to be in the spotlight after U.S. Treasury Secretary Scott Bessent confirmed that the White House is preparing to establish a Strategic Bitcoin Reserve Fund. This move is believed to be a continuation following the executive order signed by President Trump in March, which emphasizes the importance of considering Bitcoin as a national strategic asset.

Alongside efforts from the government, many large corporations such as Strategy and a series of other fund management organizations are also intensifying their activities to accumulate Bitcoin. In the context where more than 19 million BTC have been mined out of a fixed total supply of 21 million BTC, the continued accumulation by large organizations only adds to the concern about the scarcity of supply in the market.

However, not everyone shares the optimistic perspective of Samson Mow. Mike Novogratz, CEO of Galaxy Digital, believes that for Bitcoin to reach the milestone of 1 million USD, the US dollar will first have to face a serious devaluation – even falling into a spiral of hyperinflation similar to what some developing economies have experienced.

Justin