Bitcoin (CRYPTO: BTC) maxi Samson Mow said Sunday that Ethereum (CRYPTO: ETH) holders are using their BTC to inflate ETH prices via new treasury narratives, only to sell them off at peaks.
ETH A Vehicle For Further BTC Accumulation
In an X post, Mow weighed in on the ongoing surge in ETH’s price, suggesting that the second-largest cryptocurrency is merely a vehicle for BTC accumulation.
“Most ETH holders have a lot of BTC (ICO/insiders) and they are rotating that BTC into ETH to pump it on new narratives (Ethereum Treasury co’s),” Mow, CEO of Bitcoin technology company JAN3, said.
He predicted that …