ETH is productive money with asymmetric upside.
Since the merge, Ethereum (ETH) possesses superior monetary attributes (scarcity, fungibility, divisibility, portability) compared to Bitcoin and gold, and it uniquely compounds via staking yield, making it a productive asset. It is more secure due to proof-of-stake scaling security with market cap, and it is transitioning from being valued as a technology to being valued as money. The total addressable market for money is tens of trillions, and ETH capturing even a fraction implies massive price appreciation (e.g., to $250K). Institutional adoption (e.g., BlackRock staked ETH ETF, Harvard allocations) and regulatory tailwinds support this repricing.