比特币（BTC）爱好者和JAN 3 CEO Samson Mow重新点燃有关加密货币估值的辩论

比特币爱好者和JAN3首席执行官Samson Mow最近通过挑战领先的Altcoins的感知价值来重新点燃有关加密货币估值的辩论

Samson Mow, a known Bitcoin enthusiast and the CEO of JAN3, recently sparked discussion in the crypto sphere with his unique take on cryptocurrency valuations.

Samson Mow是一位著名的比特币爱好者，Jan3的首席执行官，最近在加密货币领域引发了讨论，他对加密货币估值的独特意义。

While several analysts have been focusing on the shifting market caps and implications for leading coins like XRP and ETH, Mow presented a different perspective, arguing that the crypto market is heavily skewed by a phenomenon called “unit bias.”

尽管几位分析师一直在关注市场上限的转移以及对XRP和ETH等领先硬币的影响，但MOW提出了不同的观点，认为加密货币市场被称为“单位偏见”的现象大量偏见。

This biases investors toward lower-priced coins, which are perceived as more affordable or undervalued, while coins like Bitcoin, valued higher per unit, are deemed “too expensive” by less informed investors who may be less attentive to broader supply dynamics.

这使投资者偏向低价硬币，这些硬币被认为更实惠或被低估了，而像比特币这样的硬币（像比特币相比，每单位价值更高）被视为“太昂贵”的，那知情的投资者可能不太专注于更广泛的供应动态。

Pointing out this bias, Mow highlighted how the narrative changes when considering the implications for altcoins.

指出了这种偏见，割草强调了叙事在考虑对山寨币的影响时如何改变。

He quips, "You can buy one twenty-one millionth of the BTC supply for ~ $85,000.

他打趣道：“您可以以约85,000美元的价格购买BTC供应量的二十百万。

What happens if we remove unit bias from alts to get the equivalent 1/21 million?

如果我们从ALTS中删除单位偏置以获得同等的1/2100万，会发生什么？

ETH: $9,200

ETH：9,200美元

XRP: $5,800

XRP：$ 5,800

SOL: $3,400

SOL：$ 3,400

No way these alts are worth that much. #Bitcoin dominance is going so much higher."

这些Alts绝对不值得。 #bitcoin的主导地位要高得多。”

In essence, Mow took the current market cap of each altcoin and distributed it over Bitcoin’s 21 million supply.

从本质上讲，MOW占据了每个Altcoin的当前市值，并将其分配给比特币的2100万供应。

At the time of writing, Ethereum’s market cap is around $193 billion, which, when distributed over 21 million units, comes out to roughly $9,200 per unit. Similarly, XRP’s market cap of $12 billion would be distributed over 21 million units, coming out to approximately $5,800 per unit.

在撰写本文时，以太坊的市值约为1930亿美元，当分配超过2100万台单位时，每单位约为9,200美元。同样，XRP的市值为120亿美元将超过2100万台，每单位约为5,800美元。

Despite presenting these figures, Mow, previously critical of Ripple and its flagship token XRP, strongly negated the possibility of these assets being valued at such amounts, stating that the actual market fundamentals do not support such valuations.

尽管呈现了这些数字，但Mow以前批评Ripple及其旗舰令牌XRP，强烈否定了这些资产以此类数量进行估值的可能性，并指出实际的市场基本面不支持此类估值。

According to his estimations, which he shared on X, the prices at which these coins should be valued are far lower than the values obtained when distributing their market caps over Bitcoin’s total supply.

根据他在X上分享的估计，应将这些硬币估值的价格远低于在比特币总供应方面分配其市值时获得的价值。

suggesting that the narrative changes when considering the implications for altcoins. He quips, "You can buy one twenty-one millionth of the BTC supply for ~ $85,000.

表明叙事在考虑对替代币的影响时会发生变化。他打趣道：“您可以以约85,000美元的价格购买BTC供应量的二十百万。

What happens if we remove unit bias from alts to get the equivalent 1/21 million?

如果我们从ALTS中删除单位偏置以获得同等的1/2100万，会发生什么？

ETH: $9,200

ETH：9,200美元

XRP: $5,800

XRP：$ 5,800

SOL: $3,400

SOL：$ 3,400

This highlights how supply impacts perceived affordability.

这突出了供应如何影响感知到的负担能力。

suggesting that the narrative changes when considering the implications for altcoins. He quips, "You can buy one twenty-one millionth of the BTC supply for ~ $85,000.

表明叙事在考虑对替代币的影响时会发生变化。他打趣道：“您可以以约85,000美元的价格购买BTC供应量的二十百万。

What happens if we remove unit bias from alts to get the equivalent 1/21 million?

如果我们从ALTS中删除单位偏置以获得同等的1/2100万，会发生什么？

ETH: $9,200

ETH：9,200美元

XRP: $5,800

XRP：$ 5,800

SOL: $3,400

SOL：$ 3,400

This highlights how supply impacts perceived affordability.

这突出了供应如何影响感知到的负担能力。