in Ethers early days the belief among many was that $ETH would be held primarily for its utility in facilitating transactions & uting smart contracts, rather than as a store of value

Because based on pure economics, you would assume someone would only buy enough ETH needed to transact with/use the eco

Reasons to hold ETH

- speculation on price
- for transaction fees
- to buy/invest in erc20s/721s etc..

however, over time, it’s gained recognition as a store of value

I pay my electric bill once per month, at a certain rate (bound to change)

I don’t buy 10 years worth of electricity, in hopes that the price of electricity goes up & that I can flip it in the future

Same for gas in my car. I buy enough to fill my car up vs buying 10 years worth as an investment

Speculation drives price but utility is the real economic value