What card is Ethereum playing in this bull run? The Dividend card.

Traditional capital is coming in, bringing along the Wall Street logic — what is a good asset? One that can make money. What is a good company? One that pays dividends. Are cryptocurrencies just air? Well, if there is a profit model and it can provide dividends to holders, it can't still be called an air coin.

The issue of buybacks needs to be clarified. If the timing is wrong and the price is not right, buying back shares is not caring for shareholders, it's just messing with their money. You can't play around with real money like this.

It won't be long before the market narrative may turn around: Bitcoin? That's just pure air. Ethereum has actual value, it's tangible. History always repeats itself, it just wears a different coat.