He highlighted bitcoin's primary function as a store of value, noting its limitations as a medium of exchange due to slow transaction times, even with improvements like the Lightning Network.

In short, money can be anything that can serve as a • store of value, which means people can save it and use it later—smoothing their purchases over time; • unit of account, that is, provide a common ...

The Bitcoin network finalized over $19 trillion in transactions in 2024, more than doubling the $8.7 trillion settled in 2023.