Spiral: Weak Demand, Not Technology, Limits BTC Payments

Spiral, Block’s open-source Bitcoin development organization, stated that weak demand is the primary factor hindering broader BTC payment adoption, rather than technological limitations. A report on GitHub highlighted that while payment technologies like the Lightning Network and BTC wallets have significantly advanced over the past seven years, daily BTC usage remains limited. BTC holders are reluctant to spend their coins, anticipating price increases, and merchants lack incentives to adopt BTC payments due to low consumer demand. Additionally, major payment companies such as Stripe and Shopify are opting for stablecoins instead of BTC, with payment protocols for AI agents being built on stablecoins. This trend could complicate BTC's market entry in the future. To enhance BTC payment adoption, Spiral suggested supporting both BTC and dollar-denominated payments on the Lightning Network, targeting demand in countries with unstable currencies, offering discounts and rewards for BTC payments, and developing new use cases like micropayments for AI services. Spiral also encouraged developers and payment companies to share further ideas and relevant data.

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