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Author: Admin | 2025-04-27
Force it to either break the 21M hard cap meme, or become a subsidized mining industry, I still think until this happens, BTC can successfully compete with gold and even exceed it's MC as younger generations aren't buying gold, and on top of that it's just easier to buy crypto imo. ETH has superior monetary properties than BTC imo and I'll fight to the death and die on this hill, but putting that aside, not only is it a better SoV and money, it has an infinitely larger total addressable market (still uncertain how much will or can be captured but I think it's a lot more than ppl think). So ETH at $13T MC is eventually a joke too. But for maths sake, lets say ETH is at 20T MC, that puts it at $170,000 /ETH and probably higher because I think the supply will also drop a lot more than people are estimating, which I'm also happy to back up with my thesis below. So ETH at $200k isn't unreasonable at all imo (not sure we get there in 10 years tbh) but I actually think it's possible for ETH to eventually hit a 100T market cap and potentially beyond. It's also very possible that it doesn't capture the value or something else comes along to disrupt it, but so far that's where it's headed imo. Consider this: You were considered a raving lunatic 10 years ago if you thought BTC would hit $100,000 and now it's pretty much consensus. $1M/BTC is not even crazy anymore on a proper timeline, even with it's imperfections and inability to evolve. I'm here to say that $100k ETH will become consensus and $1M ETH can be possible on a long enough timeline. Here's where the marketcap comparison midcurve meme comes in and I'll explain why I think even the MC is reasonable but ultimately pointless... ETH Thesis: The future of Ethereum Layer 1 will be comprised of entirely L2s purchasing blockspace for their blobs. Eventually even whales will be 'priced out' of L1, not necessarily by cost prohibitive transactions (that too) but eventually all liquidity and use cases will migrate to Layer 2s (and beyond) because liquidity begets liquidity. This means 2 important things: 1.) By then we will have reached saturation level demand for L2s, meaning that L2s will be able to compress more transactions in a bundle than today,
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