- Joseph Lubin described 12 features that, he said, put Ethereum ahead of Bitcoin and gold in preserving wealth.
- The Ethereum Foundation said it expects to complete core post-quantum infrastructure around 2029.
- BitMine Immersion Technologies reported holding 6,070,092 $ETH as of November 8, 2026, equivalent to about 4.97% of the circulating supply.
Ethereum co-founder Joseph Lubin said Wednesday that Ethereum’s store of value offers a functionally superior thesis to Bitcoin and gold for protecting capital amid macroeconomic volatility.
Lubin shared his views on X. Market reports say he argued that the network’s native asset does not depend on debt structures or state-backed credit, making it closely comparable to traditional commodities in this respect.
Why $ETH is the store of value for what's coming
We are almost certainly heading into a period of high inflation and extreme economic and social volatility. As inflation and risk erode the purchasing power of nation-state money and many other assets, it will matter more than ever… https://t.co/MXuapK9kPI
— Joseph Lubin (@ethereumJoseph) November 11, 2026
Lubin detailed a list of 12 operational attributes supporting his stance. Among these attributes, he highlighted that $ETH retains censorship resistance at the base layer (Layer 1) and has substantially lower barriers to secure custody and transfers at any economic scale. In Lubin’s view, a valid on-chain transaction is executed whether it involves a single dollar or billions.
In Lubin’s thesis, the asset is instrumental to decentralized finance (DeFi) as productive collateral. On-chain metrics show that Ethereum has the largest volume of issuance and settlement for fiat-pegged stablecoins. He said this infrastructure will underpin settlement for corporate workflows and hybrid operating models that bring together humans and artificial intelligence systems.
Technical Divergences on Fee Burning and Supply
Lubin’s thesis comes amid a technical debate about the network’s economic narrative raised by Vitalik Buterin. On November 8, Buterin wrote on social media that giving too much priority to transaction-fee burning (EIP-1559) could encourage corporate behavior that undermines decentralization. According to Buterin, network stability and resilience to external capture should take priority over maximizing fee revenue.
Lubin, for his part, described $ETH as a disinflationary asset under standard market conditions. Press reports explain that the term refers to a falling rate of net issuance, not a continuous decline in the absolute circulating supply. An industry source said genuinely deflationary conditions depend strictly on sustained periods of elevated demand on the base layer.
On cryptography, Lubin projected that Ethereum would become quantum-resistant between 2027 and 2028. Documentation from the Ethereum Foundation, which established a dedicated post-quantum research team in January 2026, sets a target of completing core infrastructure around 2029 under a technical roadmap that remains subject to peer review.
Despite the utility-focused fundamentals developers have outlined, market performance continues to fluctuate. Trading data showed that on November 9, 2026, $ETH was trading at around $2,118.49, down 41% year over year. Institutional players, by contrast, continue to make recurring purchases. BitMine Immersion Technologies reported steady $ETH accumulation since June 2025, allocating more than 86% of its balance to network validators to earn staking yield.
Ethereum’s technical roadmap continues to assess the introduction of Forward Inclusion Lists (FOCIL) at the consensus layer, alongside post-quantum milestones that core developers have scheduled for the end of the decade.
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