Canadian entrepreneur, investor and reality idiot box personality Kevin O'Leary — also known as "Mr. Wonderful" — appears to now be singing Ether's (ETH) praises as a deflationary nugget.

Clearly reading from a script, O'Leary took to Cameo, a website that allows users to buy personalized video messages from celebrities, to espouse the benefits of Ethereum's London upgrades. Most notably, the upgrades saw Ethereum Improvement Proposal (EIP) 1559's highly awaited fire machinery introduced into Ethereum'southward fee marketplace.

"It introduced a very important change to the monetary policy of Ethereum," said O'Leary. "Currently, the fees that users pay to send transactions go to the miner, but after this comeback, the fees will be burned."

"When y'all combine this with EIP-3675, which switches the network to proof-of-pale, [...] Ethereum will become deflationary," he concluded, adding:

"If Bitcoin is sound coin because of the $21-million supply ceiling, [Ethereum] is ultrasound money because there is no supply floor."

At the time of writing, it has been five days since Ethereum's highly predictable EIP-1559 improvement proposal went live.

Co-ordinate to Ultrasound.money, a website tracking the charge per unit at which Ether is being burned through transaction fees, it is estimated that roughly 20,500 Ether (roughly $63.75 million) has been burned so far.

Related: Ethereum could pave manner for $100,000 Bitcoin, Bloomberg analyst asserts

While a firm date for Ethereum'southward forthcoming concatenation merge, which will complete the network's transition to a proof-of-stake consensus, is yet to exist announced, experts are predicting the merge will occur in early 2022.

Final month, the concatenation merge was formalized as an Ethereum Comeback Proposal for the first fourth dimension. Now dubbed EIP-3765, the upgrade was formalized through the creation of a pull request on GitHub.