Where will ETH treasury companies bring ETH price?

Fundamental Global Inc. (FGF on Nasdaq) has filed for a 5 billion USD shelf offering. The company says most of the proceeds will be used to buy Ethereum.

They apparently state they will:
– Hold ETH as a long-term treasury asset
– Stake, restake, and participate in DeFi to grow ETH per share
– Focus entirely on ETH accumulation and value accretion for shareholders

This makes them one of now thirteen “ETH treasuries” companies whose sole mandate is to accumulate as much ETH as possible and deploy it in the Ethereum economy.

It seems like Wall Street is pouring money into Ethereum and this reflects its price. Does it still have room to grow tho?

Ethereum co-founder Joe Lubin has suggested treasury companies like this could help ETH overtake BTC in market value, possibly within a year. Vitalik Buterin has said ETH as a treasury asset is “good and valuable,” but also warns that if these treasuries become overleveraged, they could destabilize the ecosystem.

What do you guys think about this ETH-treasury narrative?