Vitalik ‘pivots’ ETH to store of value, crypto suffers after US midterms: Hodler’s Digest
Vitalik Buterin wants Ethereum to embrace a store of value narrative, upsetting Bitcoin maxis. The crypto industry faces an uncertain future following the US elections.
Ethereum creator Vitalik Buterin says the network should promote ETH as a store of value, rather than as an asset that derives value from burning fees.
He argued in a thread that idea of “ETH as fee-burning token never was as strong as it seemed” and that optimizing for that would negatively impact Ethereum’s “decentralization and capture resistance.”
Instead, he argues that Ethereum’s value should come from stability provided by its focus on “decentralization and CROPS” — referring to censorship and capture resistance, open source, privacy and security — which he believes will be more highly valued in an “era of AI disruption.”
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