Every year on May 22nd, Bitcoin Pizza Day reminds us of the infamous 10,000 BTC pizza purchase — a moment that lives in crypto history not just for its irony, but for what it represents: Bitcoin being used.
Fast forward to today, and Bitcoin has mostly become a long-term hold. It's called "digital gold," a hedge, a store of value. But that wasn't the original vision. Bitcoin was born to be peer-to-peer digital cash — a currency. So why isn't it?
Why Bitcoin Isn't Being Spent
The answer is partly technical and partly psychological. High fees and slow confirmation times have made daily use impractical on the base layer. But more than that, most holders see Bitcoin as an appreciating asset, not something to part with. Who wants to spend BTC today if it could double tomorrow?
What Needs to Change
Scalability That Feels Instant Layer-2 solutions like the Lightning Network are addressing this. Instant payments with minimal fees can make BTC viable for micro-transactions — but Lightning adoption needs to go mainstream. Price Stability & Merchant Adoption Volatility is a killer. Merchants can't plan around it, and users hesitate because of it. Wider stablecoin bridges, crypto payment rails, and automatic conversion tools can help mitigate this. Incentives to Spend Reward programs, cashback in satoshis, or even discounts for paying in BTC could nudge users toward transacting rather than hoarding. Regulatory Clarity If using BTC is a tax headache, no one will do it. Governments need to define rules that treat small-scale BTC usage more like spending fiat than disposing of a volatile asset. The Path Forward
Bitcoin won't become a global medium of exchange overnight. But we're seeing signs: El Salvador. Bitcoin-backed credit cards. Wallet integrations with Lightning. The next step is cultural — seeing BTC not just as a treasure chest, but as a tool.
So, what will it take? The answer is simple but not easy: better UX, smarter incentives, and a shift in mindset.