Ryan Sean Adams

Okay, so Bitcoin right now is $1.4 trillion, and that's all store value.

That's all monetary premium.

Ether right now is $250 billion, let's say, and a large chunk of that is monetary premium.

But it's still not as large as Bitcoin, and certainly both assets are quite far away from gold.

So there's a lot of work to be done here.

But whenever...

Oftentimes, let's say, not all of the time, but oftentimes when I see Bitcoin talked about, they always talk about Bitcoin as a store of value, as an asset.

These are mainly institutions.

So outside maybe like Bankless and Etherealize and Mike's excellent work here with this essay.

people talk about Bitcoin as if it's a store of value and as if it's a network.

And they talk about Ethereum, the network, they often ignore Ether, the asset, and they think about Ethereum as a technology.

And it seems like it's difficult to break the, I guess, the foothold that

There's only one crypto money and that is Bitcoin.

That's the store of value and that's the shelling point.

So if Ether the asset, don't even try.

You guys are just on the margins here and the battle's already been won.

In fact, some crypto native investors have already declared Bitcoin the winner for this use case.

I know I don't think that.

I know you don't think that.

Clearly, Mike, you don't.