Arca’s Jeff Dorman Calls Vitalik Buterin’s ETH Store-of-Value Pitch ‘Really Misguided’
By Unchained
AI summary of the source article
Arca Chief Investment Officer Jeff Dorman called Vitalik Buterin’s pitch for ETH as a store of value 'really misguided.' Dorman argued ETH lacks use outside Ethereum and suggested the network tax applications like Uniswap to capture revenue.
Key facts
- Vitalik Buterin argued on Nov. 8 that ETH functions better as a store of value than as a fee-burning token under EIP-1559.
- Jeff Dorman calculated that network revenue and gas holdings justify only $45 billion to $50 billion of ETH's market value, leaving roughly $200 billion based on 'social value.'
- Dorman suggested Ethereum should test its value proposition by taxing applications to see if they stay rather than moving to cheaper blockchains.
Source excerpt · Unchained
Arca's investment chief said his math accounts for about $50 billion of ETH's value, and the rest is "just social value or hopium." The post Arca’s Jeff Dorman Calls Vitalik Buterin’s ETH Store-of-Value Pitch ‘Really Misguided’ appeared first on Unchained .