đ±JAN3 CEO Claims XRP Would Cost $5,800 if Supply Matched BitcoinâsâBut Says Itâs Still Overvaluedâ
Samson Mow, CEO of Bitcoin-centric tech company JAN3 and a well-known Bitcoin maximalist, has once again taken aim at altcoinsâthis time spotlighting XRP. Using a Bitcoin-based comparison, Mow recalculated the value of XRP as if it had the same 21 million coin supply as Bitcoin.
Challenging the "Unit Bias"
Mowâs latest critique targets the concept of âunit bias,â where investors assume cheaper coins offer better value. This bias often leads people to dismiss Bitcoin as "too expensive" while buying into lower-priced assets without understanding the bigger pictureânamely, the total supply and market cap.
For example, while Shiba Inu (SHIB) trades at a tiny fraction of a cent and XRP hovers around $2, that doesnât necessarily make either coin a bargain. Mow argues that this focus on price-per-coin distorts real value.
XRP at $5,800? The Bitcoin Supply Comparison
At the time of Mowâs analysis, XRPâs market cap was approximately $122 billion. If it had Bitcoinâs supply of just 21 million tokens, each XRP would cost around $5,800. In contrast, Bitcoin itself trades around $85,000, despite having the same capped supply.
Mow used this example to argue that XRP isnât really "cheap." Its low price is only due to its massive circulating supply, not intrinsic value.
He extended this model to Ethereum and Solana as well. With Ethereum's $193 billion market cap, its âBitcoin-sized shareâ would cost roughly $9,200. Solana, with a $71 billion market cap, would translate to $3,400 per coin if it had Bitcoinâs supply.
Bitcoin Over Everything
Mow concluded that for the same $5,800 it would take to get a "Bitcoin-equivalent" XRP, an investor could simply buy about 0.068 BTC. To him, thatâs a smarter, more secure investment thanks to Bitcoinâs scarcity and decentralized nature.
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