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JAN3 CEO Exposes the Big Crypto Illusion – No Way XRP Matches Bitcoin at $$5,800
The crypto market has been plagued by misinformation and misconceptions for quite some time now. And it seems like one of the most prominent figures in the space, JAN3 CEO Samson Mow, is not letting up on his mission to expose these illusions.
In a recent statement, Mow shed light on a phenomenon he calls “unit bias.” According to him, this unit bias is what’s driving investors towards cheaper-looking altcoins like XRP and others. However, Mow firmly believes that once people grasp the concept of this bias, they will return to Bitcoin as their primary investment.
The core idea behind unit bias is simple: a lot of altcoin investors are comparing their coin with Bitcoin, focusing solely on the market capitalization or price, rather than understanding the fundamental difference in supply. This flawed method leads many to mistakenly believe that these cheaper coins offer better value when, in reality, they don’t.
To illustrate this point further, Mow took to Twitter to demonstrate the effects of unit bias by dividing the market caps of Ethereum, XRP, and Solana by 21 million, the number of total Bitcoins in existence. This exercise shows just how much more valuable each token would be if it was traded at a similar supply.
Ethereum’s market cap divided by 21 million yields $9,200, while XRP’s comes out to an astonishing $5,800 per unit. Solana’s figure would be around $3,400. This stark contrast reveals the magnitude of this deception.
Mow stresses that once people understand this concept, they will come back to Bitcoin as their go-to choice for investing, and he expects a sharp rise in Bitcoin’s dominance in the crypto market due to this shift in investor sentiment.
To Mow, there is no room for debate: “Bitcoin only.” His previous predictions have also indicated that he believes Bitcoin will reach $1 million by 2021.
Source: https://coinpedia.org/news/jan3-ceo-exposes-the-big-crypto-illusion-no-way-xrp-matches-bitcoin-at-5800/
