The chief technology officer of Ripple, David Schwartz, states that using Bitcoin (BTC) is a sensible action when it is in line with the recipient’s wish.

Dorsey’s Square has rolled out BTC payment for four million U.S. merchants.

The legendary BTC pizza story is back, bringing to the fore once again the age-old discussion of value against utility.

Bitcoin has perpetually existed in duality, one that regards it as digital gold while the other considers it as a currency to be moved. Its proponents treat it as the most valuable thing and are constantly charting, anticipating the next upward swing.

However, its creators envision a reality characterized by BTC’s widespread use, wherein it circulates as effortlessly as cash in the world. The issue of hoarding versus everyday use has been the main theme in BTC’s history from its inception until present times, and it continues to be the central point in arguments today.

Also Read: Crypto Funds Lose $1.17 Billion as Bitcoin and Ethereum Outflows Spike

Bitcoin and the Question of Spending

Jack Dorsey’s announcement about the activation of Square’s Bitcoin payments for four million merchants in the U.S. was a major turning point. Now the merchants have the option of making their transactions through BTC-to-BTC, BTC-to-fiat, fiat-to-BTC, or fiat-to-fiat channels with zero processing fees until 2027.

The moment Bitcoin reached the price of $105,104, the buzzwires melted away the age-old question once again, who, if not the absolutely certain about tomorrow, would spend their BTC today, knowing they might have to let it go at a much lower price than its eventual value?

David Schwartz, the Chief Technology Officer of Ripple, presented a viewpoint that eliminated the confusion. “All,” he answered. He said,

“The best way to pay is with the asset the person you are paying is most eager to receive.”

His statement represented a basic truth, the usefulness of payment is not determined by speculation but rather by the consent of the parties involved.

To initiate Schwartz’s explanation of the reasons behind the skyrocketing Bitcoin price, he stated, “You get the full expected value of that future appreciation today when you sell or spend.” According to him, the Bitcoin value does not go down with use, but it rather gets confirmed by it.

Bitcoin and the Pizza That Started It All

It is impossible to avoid the topic of a well-known story every time one talks about the use of Bitcoin. In the year 2010 in May, a programmer Laszlo Hanyecz made a trade where he gave 10,000 BTC and got two pizzas from Papa John’s worth $41. Mining of Bitcoin had not yet been commercialized and random people couldn’t even think of it as an asset with future value.

These same 10,000 BTC are now over $1.05 billion. It was a very simple thing, buying pizza, but it turned into that small event which laid a foundation of the whole crypto history. Hanyecz eventually expressed his opinion,

“I might be called stupid by some but at that time it was a really good deal.”

The initial true-to-life acquisition of BTC reminds us that it was the practical application of the coin that eventually led to its resurrection. The virtual money that was supposed to be stored turned out to be the one that people used, delivered, and priced.

In fact, Bitcoin was created to be in motion all the time, not to stay inactive in virtual wallets. The price can fluctuate, the discussions can become intense, however, every transfer still holds a bit of that original pizza purchase, whispering that value is, at its core, the matter of our consensus.

Also Read: dYdX Launches Zero Fees for Bitcoin and Solana Perpetual Trading with $1 Million Rewards

---

Filed under: Bitcoin - @ November 11, 2025 11:30 pm