Yuri Molchan
Vocal Bitcoiner Mow believes this is last time to exchange Ethereum for BTC at good price
Samson Mow, former Blockstream CSO and now the chief executive officer at Bitcoin adoption-focused company Jan3, is a radical Bitcoin maximalist.
As the deadline for the SEC to reveal its decision on spot Ethereum ETFs is drawing closer, Mow began to slam Ethereum-based ETFs. In a recent tweet, this “$1 million Bitcoin” advocate wrote that he is expecting them to be beaten by Bitcoin-based ones.
Besides, he believes now is the last time for holders to sell Ethereum at a good price against Bitcoin.
“Last chance to sell ETH above 0.05 BTC”
Samson Mow tweeted that he does not believe that the potential approval of Ethereum funds by the SEC regulator is bullish since, according to him, even if approved, spot Ethereum-based ETFs will “undoubtedly massively underperform Bitcoin ETFs.”
For those who are in doubt, the Bitcoin maximalist suggested comparing demand for both BTC and ETH on other markets and said it is important to consider that Ethereum will not give staking rewards.
Mow concluded his tweet by saying that now is “the last chance to sell ETH above 0.05 BTC.”
In the comments to his root tweet, Samson added that he expects the news of the potential approval to become one of the biggest “sell the news events” this year.
When a commentator pointed out that there is no company of the scale of MicroStrategy, which is acquiring Ethereum now in the same amounts as Michael Saylor’s company, is accumulating Bitcoin.
Contrary to Mow, Bitcoiner and VC investor Anthony Pompliano believes that the potential approval of Ethereum ETFs by the SEC could become “the last dam to be broken” before the U.S. approves the entire cryptocurrency space.
Bitcoin ETFs keep seeing inflows
Analytics account on X @spotonchain has revealed a recent update on spot Bitcoin ETF flows. On May 22, these funds encountered $154 million in net inflows. This metric has been positive for the last eight consecutive days; this has not been seen since the middle of March, the report emphasized.
The BlackRock fund remains the leader among ETFs, with $92 million coming into it on Wednesday. On May 21, BlackRock’s IBIT had the largest inflow over the past 32 trading days – $291 million.
About the author
Yuri Molchan
Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets.
His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.