Ethereum generates revenue for ETH holders and validators, while Bitcoin only generates revenue for miners. On the Bitcoin network, 100% of transaction fees go to miners. This means that BTC holders do not earn any income from the network. This also means that Bitcoin cannot be modeled based on traditional revenue multiples. On Ethereum, a significant portion (~80%) of each transaction fee is burned. This burn mechanism is conceptually similar to repurchasing a company's shares in that i...