Why Is Ethereum Foundation Selling ETH? Samson Mow Slams ETH as 'Not Money' While Concerns Grow

Published: Mar 19, 2026 10:50 AM • Updated: Mar 20, 2026 8:39 PM • Original source

Images

1 / 4

2 / 4

3 / 4

4 / 4

Key Takeaways

Ethereum Foundation sales are strategic, it says.

Samson Mow’s remarks underscore ongoing tensions between Bitcoin and Ethereum.

Vitalik Buterin and EF’s sales risk hurting investor confidence.

The Ethereum Foundation’s (EF) latest ETH sale has reignited debate over the crypto’s role as a store of value.

The non-profit confirmed it sold 5,000 ETH at an average price of $2,042.96 via an over-the-counter (OTC) transaction on March 14, drawing criticism from prominent Bitcoin advocates and sparking concern among traders about sustained selling pressure.

The EF said the transaction forms part of its ongoing treasury management and is intended to fund core operations, including protocol research and development, ecosystem support, and community grants.

In public statements, the organization emphasized that periodic Ethereum sales are built into its financial framework.

EF said its treasury policy targets maintaining fiat-denominated reserves sufficient to cover operating expenses over multiple years.

Under this approach, two key variables determine the scale and timing of Ethereum sales: annual operating expenditure and runway buffer.

Current targets aim for operating costs at 15% of total treasury with a 2.5-year reserve buffer, effectively requiring partial conversion of ETH into fiat or stable assets.

EF has said such sales are routine and aligned with long-term sustainability.

However, the recent sale drew sharp criticism from Samson Mow, CEO of JAN3 and a vocal Bitcoin proponent, who questioned Ethereum’s monetary credibility.

“This is how you know Ethereum isn’t money,” Mow wrote on X.

“No one working on Ethereum actually wants to be paid in ETH.”

He contrasted this with Bitcoin, arguing that contributors across its ecosystem would “happily take BTC as payment.”

The Foundation’s sale also triggered criticism from users on social media, with some questioning the optics of continued ETH liquidation.

“The future of finance is so valuable the foundation can’t stop selling it,” one user wrote, while others questioned what initiatives were being funded.

Some critics pointed to Bitcoin-focused firms like Strategy, whose co-founder Michael Saylor has championed raising capital without selling core holdings, as a contrasting model.

However, some spoke out in defense of the foundation.

“Why don’t you understand the future of finance is the code/Blockchain, these tokens just fund everything, tokens are all useless and not needed,” one X user wrote.

Separately, recent Ethereum sales by co-founder Vitalik Buterin have added to concerns about potential downward pressure on prices.

Last month blockchain analytics account Lookonchain reported that Buterin sold 1,869 ETH over a 48-hour period, during which ETH fell about 5.7% from $1,988 to $1,875.

In February, on-chain data showed Buterin had sold around 8,800 ETH—worth around $16 million.

While these figures raised alarms among some traders, analysts note the sales remain small relative to Ethereum’s overall liquidity.

Despite the sales, Buterin remains one of Ethereum’s largest holders, with roughly 224,000 ETH—valued at about $439 million—according to blockchain data.