DECRYPT · 2026-11-10 13:24 UTC

Morning Minute: Vitalik Recasts ETH as a Store of Value

Vitalik Buterin posted on X that Ethereum holders should value ETH as a store of value rather than as a fee-burning token, saying "The value of ETH comes from elsewhere." He ties that value to stability, decentralization, censorship resistance and security, and argues chasing a larger fee burn would make Ethereum a costly, congested "world-scale major corporation." Through the first nine months of 2026 the burn offset about 2% of issuance while supply grew 0.64%, and the article notes Bitcoin already holds the store-of-value category with a hard cap and deeper ETF plumbing.

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