Ryan Sean Adams

There's a dashboard on productivemoney.org, which actually shows this.

Right now, ETH has captured less than 1% of the combined monetary premium of gold and Bitcoin, because of course it's, you know,

$2,200 in order to get to $250K per ETH.

That's a 110X upside.

So it's a long way to go to get all the way there.

You end the essay like this, Mike.

You say, the market still treats ETH as a technology bet, but if the arguments in this essay are correct,

if ETH is superior in money by the criteria of Menger on saleability and Buffett on productivity, then the logical endpoint is that ETH captures the monetary premium currently held by both gold and Bitcoin.

And then you lay out that same arithmetic.

What has to happen for ETH to capture all of this?

Does it just like, is it the economy?

Does it just, you know, do the other assets have to fall away?

Like, and are we on that path right now?

Vivek, I think Mike is exactly right.

And I want to leave the last question to you, which is if all we have to do in order to capture this monetary premium is to have ETH be widely understood by large capital pools, by many billions of people, my question to you is, all right, how do we do that?

That's fantastic.

You guys are doing this work then right now, Mike, with your essay and Vivek in publishing it.

So the website is ProductiveMoney.org.

Go check that out.

Go read Mike's essay.