Bitcoin's Role in Digital Transactions: Specialized Asset, Not Default Currency

The role of Bitcoin in digital finance is expanding, evident in its use for NFT marketplace transactions and international payments. However, it has yet to become the primary currency for Web3, as the payment landscape diversifies across various assets. NFT platforms, once solely reliant on Ethereum, now incorporate Bitcoin through Layer 2 solutions like the Lightning Network, which enhance efficiency and reduce costs. Nevertheless, payment experiences differ based on platform, audience, and location. Bitcoin is increasingly favored for significant purchases and peer-to-peer transactions, particularly where decentralization is crucial. Despite the rise of Bitcoin, stablecoin transaction volumes surged from USD 1.6 trillion in 2023 to USD 2.4 trillion in 2024, with TRM Labs reporting that stablecoins comprised 30% of on-chain crypto transactions, surpassing USD 4 trillion by August 2025. While Bitcoin serves as a macro asset, stablecoins are preferred for everyday transactions due to their price stability, essential for NFT pricing and subscriptions. The U.S. GENIUS Act has further solidified the role of dollar-pegged stablecoins in crypto payments. Bitcoin's future looks promising, yet it remains a premium settlement option rather than a universal currency.