Ethereum co-founder Vitalik Buterin said ETH should be valued as a store of value, rather than mainly as a token whose supply is reduced by fee burns. He said the fee-burn case “never was as strong as it seemed” and argued that a store-of-value focus aligns with Ethereum’s decentralization and security goals. His comments are not an agreed change in ETH’s role: reactions within the Ethereum community were mixed, and there is no universally accepted definition of a store of value.
The article says the pitch follows earlier efforts to describe ETH as “ultrasound money” and “digital oil.” It also notes a tension with Etherealize’s argument that fee burns help offset new ETH issued to pay stakers; Buterin now downplays the burns.
