Samson Mow, CEO of JAN3, has expressed optimism about Bitcoin's future, claiming it is currently undervalued relative to gold and the broader monetary landscape. He believes that Bitcoin's price could experience a significant reversal due to the overheated gold market.
Bitcoin is approximately 24-66% below its expected value when compared to gold's market capitalization or the global money supply, indicating a potential price correction. Historically, when the Z-score of the Bitcoin-to-gold ratio drops below -2, it has preceded substantial price increases.
— Samson Mow (@Excellion) February 28, 2026
Mow's analysis highlights that the current Z-score for Bitcoin is -1.24, suggesting it remains undervalued. This contrasts sharply with the gold market, which he describes as overextended. Notably, past instances where the Z-score fell below -2 have been followed by notable Bitcoin rallies, including a 150% price surge in the year following the FTX collapse in November 2022 and a 300% increase after the March 2020 COVID-19 market crash.
The surge in demand for safe-haven assets, particularly precious metals, has also influenced the Real World Assets (RWA) sector. The market cap for tokenized gold has exceeded $6 billion, with a daily trading volume of $1.55 billion. Key players benefiting from this trend include stablecoins like Tether Gold (XAUT) and PAX Gold (PAXG), which have market caps of $3 billion and $2.5 billion, respectively.
