Dragonfly’s Qureshi Defends Ethereum Valuation, Compares to Amazon’s Early Growth

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Release Time:12/11/2025 02:11:34

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Ethereum news broke on 9 December 2025 as Dragonfly’s Haseeb Qureshi defended the network’s valuation on the Milk Road Show. He argued Ethereum should be compared to early Amazon, not traditional value stocks. Qureshi dismissed P/S metrics, saying fee revenue equals profit. He noted Ethereum’s 380x multiple is lower than Amazon’s 600x in its early phase. He stressed that layer 1s are in exponential growth and shouldn’t be judged by old financial models. Altcoins to watch may follow similar valuation logic.

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