Ether has a PE ratio roughly 30, which is a reasonable PE ratio of a $1 company. And my expectation is that the vast majority of Ether, let's say 80%, will eventually be used as collateral money. People often think that money is only useful if it's being used for payment and it's moving around. But actually, money can be used when it's just sitting there and doing almost nothing other than backstopping some sort of liability.

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