Arca CIO Jeff Dorman says most of $BTC and $ETH's value comes from social appeal, not cash flows or utility "There's really only 3 types of value that it can have, right? It can…
Original source excerpt
Arca CIO Jeff Dorman says most of $BTC and $ETH's value comes from social appeal, not cash flows or utility "There's really only 3 types of value that it can have, right? It can either have financial…
Arca CIO Jeff Dorman says most of $BTC and $ETH's value comes from social appeal, not cash flows or utility "There's really only 3 types of value that it can have, right? It can either have financial value, meaning you can actually come up with a valuation for it based on some revenues or cash flows." "You can argue whether something is cheap or expensive based on various ratios, but at least there's some tangible metric from the revenues and cash flows that make it worthwhile, right?" "The second form of value is utility or usefulness, right? Meaning, does somebody have to hold this or own it in some way, shape or form, or is it useful in some way?" "The third type of value is just social value, right? Like memetic value, or is there a cool factor behind it?" "Even Joe Lubin would admit this, because he actually tweeted it out a year ago. It was a tweet from January 18th, 2025, where he said Bitcoin is 80% memecoin, 18% store of value, 2% other." "He said ETH is 65% memecoin, 25% utility coin and 10% store of value. So even he sort of agrees that the majority of the value of these protocols is just in this social value, this memetic value and this cool factor."
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