There’s been much debate in Bitcoin circles pitting the store of value narrative against medium of exchange. Personally, this has always surprised me; the one doesn't preclude the other, and I see both as indispensable steps on the road to monetization. And crucially for
@bitcoinhodlco, Lightning doesn't force Bitcoin to choose between SoV and MoE; in fact it unifies them.
That same Bitcoin sitting in a channel stores value and also routes payments, earning a yield, with zero leverage and zero custody surrendered.
Kudos to
@ZeusLN, to Chris Ritter,
@evankaloudis and team on the publication of LIGHTNING ECONOMICS, together with @axoiombtc. This excellent paper is the first formal ‘return on invested capital’ model for native Lightning yield, and exactly the framework the institutional debate has been missing.
It’s the dual thesis @bitcoinholdco has been executing since day one: with Bitcoin as our treasury reserve AND our operational revenue infrastructure. Not either/or, but both.
The lightning flywheel is real.