JAN3 CEO and Bitcoin maximalist Samson Mow has assessed how much XRP would cost if it had the same supply as Bitcoin.

Samson Mow, CEO of Bitcoin-focused technology firm JAN3, has again expressed his criticism of altcoins, particularly XRP, by highlighting their market values through a Bitcoin-based lens. 

Mow Highlights the Unit Bias

In a post looking to debunk biases driven by price-per-coin metrics, Mow recalculated the value of several popular cryptocurrencies as if they had Bitcoin’s limited supply of 21 million coins. 

This approach called attention to what he described as the misleading effect of “unit bias.” Notably, this concept refers to a psychological trap where investors mistake a low price for a good deal without considering the overall market cap and supply. These investors often claim Bitcoin’s price is too high, opting instead for assets with lower prices.

For instance, an asset such as Shiba Inu has a price significantly lower than a token like XRP, as SHIB trades for $0.000012 at press time, while XRP changes hands at $2. However, does Shiba Inu’s lower price make it a better deal than XRP or other altcoins with higher prices?

XRP Would Trade at $5,800 per Bitcoin-sized Unit

Mow leveraged this concept to address the bias around the prices of altcoins and Bitcoin. At the time of his analysis, XRP had a market cap of around $122 billion. Dividing that figure by Bitcoin’s fixed supply of 21 million tokens results in a theoretical cost of around $5,800 for what he calls a “Bitcoin-sized share” of XRP. 

Simply put, if XRP had the same supply as Bitcoin, each XRP coin would be priced at nearly $6,000. Meanwhile, Bitcoin at this supply trades for $85,000, a significantly higher price. 

With this comparison, Mow argues that XRP is not as cheap as it appears when trading at just a few dollars per coin. According to Mow, many investors mistakenly see XRP’s low price as a bargain, failing to account for its massive circulating supply.

Speaking further, he extended his analysis to Ethereum (ETH) and Solana (SOL). At the time, Ethereum’s market cap hovered around $193 billion. Applying the same method yields a value of about $9,200 for a Bitcoin-sized share. Solana, with a market cap of about $71 billion, translates to roughly $3,400 per share using Bitcoin’s supply standard. 

These recalculations expand on Mow’s message: that high-supply coins like XRP, ETH, and SOL are not as inexpensive as they seem. In fact, by comparing them to Bitcoin’s scarce model, he suggests they may be massively overvalued.

Mow Continues to Champion Bitcoin Over Altcoins

The Bitcoin maximalist’s conclusion was that instead of spending $5,800 to own a Bitcoin-equivalent slice of XRP, investors could instead purchase around 0.068 BTC worth $5,800 at Bitcoin’s price point of $85,000.

To Mow, this presents far better value and long-term security due to Bitcoin’s supply and decentralized foundation. His broader point is that many altcoins use high supply volumes to mask their true valuation, luring in investors with what appears to be low entry costs.

Mow’s recent commentary is consistent with his long-standing advocacy for Bitcoin and skepticism toward altcoins. He has repeatedly taken to public platforms to express his belief that Bitcoin is the only cryptocurrency worth holding for the long haul. 

In May 2024, he reacted critically to the approval of Ethereum spot ETFs, emphasizing that altcoins do not contribute to Bitcoin’s growth. Earlier that year, he warned that altcoins like Solana were grossly overvalued, pointing out that their market cap had ballooned to $73 billion while MicroStrategy, a firm holding billions in Bitcoin, was valued at less than half that.

His criticisms have extended to XRP specifically. In a February 2025 interview, Mow included XRP and Solana among altcoins he believed were dramatically overpriced compared to their fundamentals.

However, despite XRP’s higher supply, some XRP proponents believe the asset has the potential to reach higher prices. For instance, predictions around the $100 price mark have consistently emerged. Notably, for BTC to deliver the same returns as XRP at $100, the crypto firstborn would need to rise to $4 million.