Ethereum investors have received a stern warning from Samson Mow, CEO of JAN3 and a fervent Bitcoin supporter. According to him, ETH holders are nearing their last opportunity to protect their money before the market risks collapsing.
As Mow pointed out, approximately 768,400 ETH, worth about 3.5 billion dollars, will not be staked in the near future. He asserted that this massive token release will create significant selling pressure. According to him, the most appropriate action ETH holders can take is to exchange their assets for Bitcoin.
Mow Predicts Ethereum Will Decline as Bitcoin Strengthens
In a statement on Friday, Mow urged investors to act quickly, emphasizing that this is the last opportunity to sell ETH above 0.03 BTC. He believes the price of Ethereum could drop sharply when the unstaking process begins in two weeks. This view aligns with his widespread critiques of ETH and his belief that it will never replace Bitcoin in terms of value or utility.
Meanwhile, Mow remains steadfast in his predictions for Bitcoin's future. He has consistently asserted that BTC will eventually be valued at 1 million dollars. He is positioning himself for an impending demand shock as supply tightens after the 2024 halving and the ongoing buying activity of spot ETF funds.
Although these developments did not occur according to his previous timeline, Bitcoin has recorded a new all-time high this year, surpassing the 124,000 dollar mark. His argument is further reinforced by the limited supply of 21 million coins, of which over 19 million have already been mined.
U.S. Strategic Reserves Contribute to Bitcoin's Upward Momentum
Bitcoin continues to gain upward momentum this week as U.S. Treasury Secretary Scott Bessent confirmed the establishment of a strategic Bitcoin reserve fund, following an executive order signed by President Donald Trump in March.
Along with government policy, large corporations like Metaplanet have proactively reserved Bitcoin in their treasury. This gradual accumulation further reinforces Mow's view that supply is tightening and his forecast of a demand shock becomes more convincing.
Samson Mow's message leaves no doubt about his stance. He believes Ethereum is facing an imminent collapse and emphasizes that investors should switch to Bitcoin before it's too late.
