Samson Mow Says ETH Pump Just a Detour Back to BTC

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Samson Mow Says Ethereum Pump Just a Detour Back to Bitcoin

Written by Aaron S.,

Editor-In-Chief

Last Updated: August 11, 2025

Key Takeaways

Samson Mow stated that Ethereum's rally is short-term, with profits likely to flow back into Bitcoin;
He warned that Ethereum may struggle to break past highs by calling it a classic "Bagholder’s Dilemma";
Despite ETH/BTC doubling since April, Mow insisted Ethereum is just a tool to accumulate more Bitcoin.

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Samson Mow Says Ethereum Pump Just a Detour Back to Bitcoin

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Ethereum’s ETH $3,009.26 recent rally might not last, according to Samson Mow, who believes many investors will eventually move their profits into Bitcoin BTC $90,682.06 .

Mow, CEO of Bitcoin-focused company Jan3, stated on August 10 that early Ethereum adopters, especially those who already hold large amounts of Bitcoin, are behind the recent Ethereum price boost.

He claimed that these holders are temporarily using their Bitcoin to buy Ethereum to push new narratives, such as the rise of Ethereum treasury strategies. However, Mow said their goal is not to stay in Ethereum for the long term.

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Mow wrote, "They’ll dump their ETH, creating new generational bagholders, and then rotate the gains back into BTC. No one wants ETH in the long run".

He warned that it may be hard for Ethereum to reach new highs. As prices climb closer to those levels, many investors will be tempted to sell. He described this as a "Bagholder’s Dilemma", where the pressure to take profits increases as the price gets higher.

One key metric he addressed was the ETH/BTC ratio, which shows how much Ethereum is worth compared to Bitcoin. That ratio currently stands at 0.036, double its five-year low of 0.018 in April.

Some believe this could mean Ethereum is starting to lead the market, but Mow disagrees. He said:

Ethereum has always been a vehicle for those people to get more Bitcoin.

Meanwhile, Willy Woo recently shared his views on what is holding Bitcoin back from becoming a true digital reserve. What did he say? Read the full story.