Samson Mow says ETH, SOL, and XRP are overvalued when measured against Bitcoin supply 

Mow‘s calculations look at altcoins by comparing them to Bitcoin’s fixed supply. For Ethereum, with its approximately $193 billion market capitalization divided by 21 million, he arrives at $9,200 as the equivalent value. “Instead of buying that one twenty-one millionth of Ethereum, you could buy just 0.11 BTC,” Mow argued.

“XRP is only $2 but Bitcoin is too expensive at $85,000!” he wrote. Mow also added that “Unit bias is absolutely destroying the uninitiated.”

This viewpoint comes as the dominance of Bitcoin has grown respectably throughout a number of time periods. According to TradingView data, the dominance of Bitcoin has increased by 14.48% over the last year. It has also spiked 9.15% over the last six months, 9.71% year to date, and 3.76% over the last month.

While Bitcoin has a fixed cap of 21 million coins with decreasing issuance through halvings, Ethereum has moved to a deflationary model after implementing EIP-1559, which burns a portion of transaction fees.

Even XRP has a pre-mined supply of 100 billion tokens, with approximately half in circulation. Solana has an inflationary model with dropping inflation rates over time.