- Mow’s statement is echoing a long-held Bitcoin maximalist belief in which most other assets lose relative value as Bitcoin strengthens over time
- He has long outlined a trajectory where Bitcoin becomes the global monetary standard, gradually displacing fiat systems
- Mow said that Ethereum investors are amplifying its price, often by rotating BTC into ETH
Samson Mow, entrepreneur and Bitcoin advocate, had a somewhat provocative X post, saying: “Everything is trending to zero against Bitcoin. Don’t ever forget that.”
His statement echoes a long-held Bitcoin maximalist belief in which most other assets (whether fiat currencies, altcoins, or even gold) lose relative value as Bitcoin strengthens over time. It’s a remark about Bitcoin’s relative superiority and the idea of a future where BTC becomes the dominant store of value.
Mow has long outlined a trajectory where Bitcoin becomes the global monetary standard, gradually displacing fiat systems. He envisions a world where everything is denominated in Bitcoin, with national treasuries and everyday transactions shifting accordingly.
Related: Ethereum Whales Buy $4.78B in ETH Since July, But Is It a “Bagholder’s Dilemma”?
Mow’s broader thesis is anchored in Bitcoin’s capped supply, decreasing issuance (via halving cycles), and escalating demand from both governments and corporations. He argues that this imbalance between supply and demand is the key factor causing all other assets to devalue in comparison.
A few days ago, he touched base on Ethereum, which didn’t sit too well with some of the ETH community. Mow said that Ethereum investors are amplifying its price, often by rotating Bitcoin into ETH, driven by themes like ‘Ethereum treasury companies.’
He continued, saying that once ETH rallies substantially, these investors will dump ETH, creating new “generational bagholders,” and then funnel their gains back into BTC.
Bitcoin is nearing its all-time high
Some analysts anticipate a bullish August for Bitcoin, citing technical strength, reclaiming of the 50-day moving average, and improved sentiment as catalysts for a continued uptrend toward $120k-$140k.
The cryptocurrency saw a boost of roughly 1.2% in the last 24 hours, and is now hovering at around $120k. Many crypto enthusiasts expect Bitcoin to go over $123k soon, which would make it a new all-time high (the current one was in July).
Related: Bitcoin’s Path to $130K After BTC Breaks $118K Resistance; Puts “Altcoin Season” on Hold
Data reveals that weekly crypto inflows reached $572 million, including approximately $260 million directed specifically into Bitcoin-centric products.
More big companies getting into Bitcoin is enhancing its market maturity and making it seem less and less as a risky asset. Looking at the data from several weeks ago, over $138 billion is now held in Bitcoin ETFs, showing that the currency is becoming a more accepted part of the financial world.
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