Bitcoin is gold, Ethereum is oil—this saying doesn’t really hold water in my opinion. It’s a consensus that Bitcoin is the gold of the digital age, but whether Ethereum is the oil of the digital age is still up for debate. Of course, this doesn’t change the fact that ETH will continue to rise. Personally, my portfolio allocation between these two assets has gradually shifted from 8:2 to 9:1. That’s because there are a lot of great applications that require ETH. Oil has irreplaceable value, but right now, ETH has plenty of imitators like Solana, Sui, etc., and their performance isn’t bad either. If ETH, which is heavily application-driven, gets too expensive, people will just switch to a cheaper chain, preventing ETH from going "to the moon" like BTC. The previous L1 wars happened because Ethereum became too expensive to use during the DeFi summer. Oil itself is a consumable, and its unit price doesn’t really increase much. The rise in total FDV comes from increased proven reserves and production. If you compare hoarding gold versus hoarding oil over the past hundred years, gold wins hands down. I think the oil of the digital age is AI computing power companies like NVIDIA or the stocks/tokens of some future company that hoards computing power. Left hand Bitcoin, right hand AI computing power—both are worth heavy positions in this era.