Bitcoin's ETF Buzz Is a Trap: 3 Data Points That Prove Groceries Matter More

The Bitcoin ETF frenzy. It's everywhere. Truthfully, it sometimes feels like we’re all just chasing the shiny object. At the same time, we’re missing the real treasure that’s buried in our own backyard: getting Bitcoin to actually be useful. Like, buying groceries useful. Let’s cut through the Wall Street hype and have an honest discussion.

ETF Gains? Or Just a Mirage?

Now everyone’s celebrating these ETF approvals, calling them the bridge to mass adoption. But ask yourself this: does a Bitcoin ETF make it easier to buy a loaf of bread? Does it enable a person living in a country facing hyperinflation to safeguard their savings? The answer, bluntly, is no.

Think of it like this: imagine climbing the Huangshan mountains in China. Now go admire them from an acceptable social distance. You can score their geological formations and even carve financial instruments based solely on their fictitious worth. That’s not the same as actually enjoying the grandeur of the Rockies. You have to experience the ascent and sample the regional cuisine atop our perch to appreciate. The ETF is the blurry longing, spending Bitcoin on earth is the clear reality.

Volatility vs. Daily Bread

To be sure, Bitcoin’s volatility is the white elephant in the room. And the ETF's? They frankly don't address the real issue. Americans aren’t going to spend a measure of account that can lose 20% of its value in a single day on… dairy and produce. This is a problem!

Look at the transaction volume on the Lightning Network (a layer-2 scaling solution for Bitcoin). And even though it’s so much larger than before, it truly is still a minuscule portion of total Bitcoin trading volume. Why? Because it’s still not simple enough for your average Joe to figure out. And oh look, those that are actually using it aren’t going out and buying a Tesla with it – they’re using it for small transactions.

That experiment certainly has not been perfect, but it shows what’s possible when you shift the focus from Wall Street to Main Street. The Chivo wallet, as bad as it was, at least tried to make Bitcoin a practical daily tool. Look at the transaction volume going through Chivo compared to the volume of Bitcoin that’s being accumulated in ETFs. Here’s the kicker.

Data Point #3: Think about countries with high levels of financial exclusion. Bitcoin might be a lifeline too, providing a gateway to financial services for the unbanked. Are ETFs helping these people? Absolutely not. They’re helping the institutional investors, not that guy who can’t figure out how to feed his family.

Satoshi's Vision Hijacked?

Satoshi Nakamoto certainly didn’t design the Bitcoin protocol with the idea that it could be yet another asset class for hedge funds to gamble on. He envisioned a peer-to-peer electronic cash system. The Bitcoin ETF narrative threatens to hijack that bigger vision, remaking Bitcoin into something it was never supposed to become.

It’s time to quit fixating on ticker symbols. Onboarding the world It’s high time we constructed an ecosystem that enables anyone—not just early adopters—to use Bitcoin for practical, everyday purchases. We could use more companies like MNEE and HandCash too, developing the kind of convenient Bitcoin payment onramps that build retention and loyalty. We need education initiatives that change perceptions of Bitcoin from a "get-rich-quick scheme" to a practical tool for everyday transactions.

As a supporting measure, governments can offer tax incentives to merchants that accept digital assets. Real momentum needs to come from the bottom up. It needs to come from us.

So, as airlines, let’s not get suckered into being ETF-stampeded. Let's remember why Bitcoin was created in the first place: to empower individuals and provide a more equitable financial system. Let's focus on groceries, not just gold. The long-term success of Bitcoin is contingent upon it.