Ethereum is up 60% over the past month.

Bitcoin? Just 22%.

If you ask the mainstream media, they’ll credit Ethereum’s breakout to the recent Pectra upgrade – a long-anticipated overhaul that improves user experience, lowers transaction costs, and paves the way for greater scalability.

That’s a compelling story. And it’s true.

But in my view, it misses the bigger picture.

Because while Ethereum’s tech is clearly improving, that’s not what’s really moving the price.

Let’s be honest: crypto assets don’t trade on fundamentals – at least not the way stocks or bonds do.

They trade on narrative. Momentum. And above all, their ability to create wealth.

In that department, Ethereum delivers.

This isn’t a knock on Ethereum or the people who believe in its mission. I do too – to a degree.

I personally own Ethereum in my long-term portfolio, and I recommend readers consider owning some as well.

But let’s zoom out. This latest rally probably has less to do with the Pectra upgrade and more to do with the simple fact that Ethereum has a track record of printing millionaires.

That might sound cynical – but it’s realistic.

In Financial Markets, People Chase What Works

Whether it’s Bitcoin, Ethereum, Dogecoin, or Solana, crypto assets don’t always rise because they’re the fastest, most elegant, or most scalable technologies.

They rise because they’ve made people money.

Other investors see that and so they chase it.

Ethereum, despite stiff competition from newer and arguably more efficient blockchains, still commands massive mindshare.

Not necessarily because it’s the best for every use case but because it’s been a proven wealth generator.

And like it or not, that’s what drives capital flows.

My VC Background Taught Me to Spot Outliers

Before launching The Million Mission, I worked in venture capital.

Think of VC like being a shark on Shark Tank – but instead of investing in local businesses, I was backing early-stage startups that could one day become the next Airbnb, Uber, or Stripe.

Here’s what most people don’t realize about venture investing: you expect to lose most of your bets.

In fact, I went into every deal assuming I might lose 100% of my money.

Why? Because one big winner – a true outlier – could return 100x, 500x, or even 1,000x.

That one win can pay for all the losers and then a windfall of profits on top.

This is exactly how I approach crypto.

Bitcoin and Ethereum aren’t sure things. But they behave like outliers.

They dominate headlines. Capture attention. And rally in explosive fashion.

And when an asset starts doing that – especially over and over again – it’s worth watching even if the rationale feels thin.

These are the kinds of asymmetric opportunities I’m hunting every day in The Million Mission.

Because to turn $100,000 into $1 million, I don’t need a perfectly diversified portfolio.

I just need a few outliers.

A Quick Note on My Ethereum Position

Yes, I own Ethereum.

Not in my Million Mission trading portfolio, but as part of my longer-term, speculative holdings.

It sits alongside Bitcoin and a handful of other high-upside bets I’m willing to hold for years.

Do I believe Ethereum will become the foundation of the global financial system?

Maybe. But I’m not building my thesis on that.

Because at the end of the day, Ethereum doesn’t need to change the world to be a winning investment.

It just needs to keep doing what it’s already done: capture attention, attract capital, and create wealth.

That’s what’s driving this rally.

Not the Pectra upgrade. Not some sudden leap in fundamentals.

It’s the same engine that’s powered every major crypto boom: the promise of outsized upside.

So yes, I suggest you consider owning Ethereum too.