U.Today – Samson Mow, a vocal supporter and head of the Bitcoin-focused company Jan3, continues to criticize all other altcoins, praising Bitcoin as the only worthy digital currency.
This time, he took to his X account (formerly known as Twitter) to talk about and criticize the recently approved Ethereum spot ETFs.
“S coins don't help Bitcoin”
The topic of Mow's tweet posted today was “s-coins,” as Bitcoin maximalists like to refer to altcoins, showing their disapproval. Commenting on the immediate approval of the Ethereum ETF that took place last week, Samson Mow said that “scoins don't help Bitcoin” and “there is still no second best” for him.
The Bitcoin maximalist believes that Ethereum spot ETFs (“securitized ETH,” as he put it) are not facing demand right now and that Bitcoiners are not going to rethink their models because of those Ethereum spot ETFs. Last week, Mow tweeted that it was investors' “last chance to sell ETH above 0.05 BTC.”
Mow opposes Michael Saylor
By making this statement about the Ethereum ETF not helping Bitcoin, Mow somewhat opposes the statement by Bitcoin evangelist and MicroStrategy founder Michael Saylor. During a recent interview, Saylor, whose company has been purchasing Bitcoin monthly and putting it on its balance sheet, said that he believes the timely approval of the Ethereum ETF can be good for BTC.
Saylor explained that this positive SEC decision on Ethereum makes the entire asset class larger and may help attract more money to Bitcoin itself.
BlackRock (NYSE 🙂 Outperforms Grayscale Bitcoin ETF
On-chain analytics data account @lookonchain shared that on May 29, Bitcoin spot ETFs experienced another significant inflow, adding 2,075 BTC in total. This amount of Bitcoin is valued at over $140.8 million.
BlackRock obtained the largest amount of BTC: 1,503 BTC worth more than $102 million. Fidelity added 503 BTC, VanEck acquired 206 BTC. Grayscale saw an outflow of 47 Bitcoin. By now, BlackRock has overtaken Grayscale as the largest spot Bitcoin ETF with $19.59 billion in Bitcoin to Grayscale's $19.6 billion.
In the last 24 hours, Bitcoin added 1.35%, surpassing the $68,000 price level. However, this marginal increase was followed by a pullback that took the world's flagship cryptocurrency to $67,430, or $200 higher than the point from which Bitcoin rose yesterday.
This article was originally published on U.Today.
