William Mougayar Frames Ethereum as a Global Public Good in December 23, 2025 Thread

On December 23, 2025, the official Ethereum X account published a guest thread by author and investor William Mougayar asserting that Ethereum operates as a non‑rivalrous, non‑excludable public good. He proposed a three‑part valuation approach—captured value, flow value, and a compounding "trust surplus"—to assess Ethereum’s role beyond fees, throughput, and short‑term metrics.