A pro-Ethereum group called Etherealize has revised its long-term valuation case for the cryptocurrency, arguing it could theoretically reach $250,000 per coin. Its new paper positions Ethereum as a superior monetary asset to both gold and Bitcoin, citing its ability to generate yield. The argument partly relies on the growth of decentralized finance, a sector that has faced significant security challenges and outflows recently, with over $600 million lost to hacks since April.
A Wall Street-focused organization dedicated to boosting Ethereum has issued a new paper arguing its native token could one day be worth $250,000. This figure is derived from the combined market value of gold and Bitcoin, which the paper states is roughly $31.1 trillion.
With 121 million Ether in circulation, that total valuation would equate to over $262,000 per coin. “The path to $250,000 depends on this being understood: ETH is not a technology bet,” the paper reads.
Founded in August 2024 and supported by Ethereum co-founder Vitalik Buterin and the Ethereum Foundation, Etherealize aims to convince traditional finance to adopt Ethereum products. Its latest report positions Ether as a bearer asset that compounds, calling it “The first monetary asset that compounds without counterparty risk.”
The paper calls gold and Bitcoin “dead capital,” arguing “Productive money will outcompete dead capital.” It claims Ethereum matches or exceeds both on key monetary attributes like scarcity and portability, except for having an established history.
It further argues Bitcoin’s security model is vulnerable due to halving block rewards and developer resistance to changes. However, the paper’s case for Ethereum’s higher floor relies on decentralized finance growth.
That assumption has been tested this month, as data shows over $606 million in crypto was lost to hacks since April 1. A major hack affected the largest DeFi protocol, Aave, leading to dramatic outflows.
The paper does not provide a timeline for the $250,000 figure and cautions it is “not a prediction.” “Whether the repricing happens in five years or twenty is unknowable,” it states.
