Samson Mow, prominent Bitcoin supporter and CEO at JAN3, a company focused on Bitcoin adoption, has issued a friendly warning to holders of Ethereum and other altcoins, urging them to dump everything and jump on the Bitcoin bandwagon while there is still a chance.
Mow also shared his take on why Bitcoin likely reaching $1 million in the current cycle is not “strange” at all, as some believe.
“Sell it and buy Bitcoin”: Samson Mow
Mow published a tweet, issuing a “note of caution” to “all the s-coin speculators.” He stated that “what is happening to Ethereum now will happen to whatever thing you’re currently excited about.” This is the way it will always be, he claimed. He strongly recommended them to sell ETH and all other altcoins they are holding and get into Bitcoin instead: “Sell it and buy #Bitcoin while you still can.”
Just a note of caution to all the shitcoin speculators: what is happening to Ethereum now will happen to whatever thing you’re currently excited about.
This is how it has always been and this is how it always will be.
Sell it and buy #Bitcoin while you still can.
— Samson Mow (@Excellion) November 19, 2024
This week, the second biggest cryptocurrency by market capitalization value, Ethereum, has been underperforming Bitcoin. Dogecoin cofounder Billy Markus also pointed out this fact in a recently published tweet.
However, cryptocurrency analyst Ali Martinez believes that ETH is about to outperform BTC, as happens every crypto cycle. He expects Ethereum to test the $4,000 and $6,000 levels and then perhaps even soar to $10,000 per coin.
Bitcoin supply shock coming, Mow says
While, over the past year, Mow predicted that a Bitcoin supply shock would arrive soon, now he has doubled down on his prediction. Back in January, when the SEC approved spot Bitcoin ETF trading, the JAN3 boss tweeted that the Bitcoin halving would create a BTC supply shock, while ETFs would bring a demand shock.
Once those two clash, the leading cryptocurrency would skyrocket to $1 million. Now, as Bitcoin has reached a new historic peak of slightly above $94,000, Mow tweeted that even though the majority of people have no idea what a supply shock looks like, “they’re about to find out.”
Most people have no idea what a Supply Shock looks like, but they’re about to find out.
— Samson Mow (@Excellion) November 19, 2024
Mow also responded to a critic who ridiculed his $1 million Bitcoin prediction, calling it “crazy.” Mow said that having a U.S. debt reaching $36 trillion after “your grandparents used to pay 15 cents for a hamburger” is crazy indeed, but not Bitcoin potentially reaching $1 million per coin.