TD₿: Store of Value or Medium of Exchange? Bitcoin’s Real Role - (a Swan Signal Live segment) with Brady, Steven, John and Alex
TL;DR: Should Bitcoin be spent or saved? This Swan Signal clip explores the Pizza Day debate and Saylor’s “don’t sell” view—revealing the tension between Bitcoin as money vs. store of value.
Hey Bitcoiners,
Bitcoin Pizza Day commemorates the first real-world Bitcoin transaction, when Laszlo Hanyecz bought two Papa John’s pizzas for 10,000 BTC—marking the moment Bitcoin gained a dollar-denominated price. While Hanyecz is best known for this purchase, he also made major contributions to Bitcoin, including developing the first Mac OS implementation and GPU miner.
This year, Michael Saylor sparked controversy by posting a pizza photo while emphasizing he paid in dollars, not Bitcoin—reaffirming his “don’t sell your Bitcoin” philosophy. Some felt it was a missed opportunity for Saylor to lead by example and use his personal Bitcoin, reinforcing Bitcoin's legitimacy as a medium of exchange.
The broader debate centers on Bitcoin’s dual identity: store of value vs. medium of exchange. Some argue that spending Bitcoin and then replacing it can build transactional momentum, encourage merchant adoption, and counter mainstream skepticism. Others say Bitcoin doesn't need to replace fiat immediately and that infrastructure alone won’t accelerate adoption—demand will.
Ultimately, the evolution from savings vehicle to currency will happen gradually, likely driven by merchants who prefer to receive Bitcoin or incentivize its use. Until then, the debate reflects growing pains in Bitcoin’s maturation as a monetary system.
Tick tock next block,
The Swan Education Team
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Welcome to Bitcoin: 101 Series
Swan understands that learning about Bitcoin can be daunting, and articulating its concepts to your loved ones can often appear like an insurmountable task. So, we created this free 1-hour Welcome to Bitcoin: 101 Series. It’s the best way to orange-pill your friends and family.
With host Natalie Burnell, you’ll learn the many ways Bitcoin can benefit you, such as:
Inflation Protection: Protect your savings from inflation and manipulation.
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Prosperous Future: Decentralized money that serves as a store of value for your hard-earned wealth.
Help kickstart your loved one’s Bitcoin journey today!
Quote of the Day
“First step to understanding Bitcoin: admitting you don't understand Bitcoin.”
- Jameson Lopp
Job of the Day
Product Manager
USA ONLY / Remote only
Full Time
Business Operations
About Fold
Fold makes it easy to earn, buy, sell, and live off of Bitcoin. Fold takes established consumer financial products and optimizes them for a Bitcoin future. Fold also offers an FDIC-insured checking account, a Bitcoin exchange and wallet, thousands of merchant offers, and more.
In 2020 we partnered with Visa to launch the first ever bitcoin-rewards debit card, we recently announced a bitcoin-rewards credit card, and we continue to launch new products at regular intervals. In February, 2025, Fold became the first publicly listed bitcoin financial services company. We’re growing like crazy with a passionate and loyal community.
About the Role
We are looking for a Product Manager to help us through our entire product suite and lead the company’s most strategic initiatives. Taking full responsibility from inception to launch and beyond, the Product Manager works closely with cross-functional teams and stakeholders to ensure a shared understanding of goals and objectives, while also ready to address challenges that may arise during the product lifecycle. The Product Manager is open to feedback and willing to make adjustments when necessary, always prioritizing the best interests of the product and the organization.
What You'll Do
Write detailed functional specifications for both engineers and designers
Be a tone setter and cultural pillar for not just the Product team but the entire company
Through example, raise the overall quality bar of both what we ship and how we ship it
Communicate with support, compliance & risk, finance, marketing, and operations teams as inputs for priority
Communicate with clients for both troubleshooting purposes and for greenfield research
Build a product roadmap, maintain a backlog of projects, and manage the priorities for engineers and designers
Define and monitor metrics where appropriate to measure the overall impact of new features
Partner with third party product and engineering teams for integrations
Remain up-to-date on industry trends, best practices, and emerging technologies, incorporating relevant insights into the development process to ensure the product remains competitive and valuable to users
Required Skills and Experience
6-8+ years experience in a product management role or developer on technical products
Experience building mobile and web applications
A deep understanding of bitcoin; both technically and as money
Excellent spec-writing and UX skills
An organized and schedule driven mindset
Ability to communicate a clear vision and encourage open communication, fostering an environment where innovation thrives and ideas can flourish
Additional Qualifications
Active Fold user
Experience building prototypes and other ways of integrating AI tools into daily workflow
What You'll Love About Us
Fold operates in the fast-growing, early stage industry that is Bitcoin. Our products and our mission are direct extensions of the financial freedom that Bitcoin represents. In addition to being part of a mission that matters, we offer incredible benefits, including:
We’re a highly collaborative, fully remote team
Flexible work schedule, including unlimited time off
Competitive salary
Equity package
401k with employer match up to 3%
Yearly vacation stipend
Comprehensive health, vision and dental insurance, including HSA and FSA accounts
Paid parental leave
Regular in-person team meetups to socialize and co-work
New to Bitcoin? We offer all our new hires a “starter pack” to get you up to speed, including learning materials about Bitcoin and your own hardware wallet.
To Apply US candidates only. Apply via Wellfound or send resume and cover letter to matt.mcmanus@foldapp.com. Candidates interested in this opportunity must have permanent legal authorization to work in the United States and be located in USA.
Verification of employment eligibility will be required at the time of hire. Visa sponsorship, including student visas, is not available for this position. The best way to prepare is to get familiar with our product - download our app or find us on X. Fold is an equal opportunity employer. We don’t discriminate against applicants for any reason.
Not your particular skill set? Check out all the Bitcoin Jobs at bitcoinerjobs.com.
In the Headlines
Michael Saylor’s Strategy Plans Preferred Stock IPO to Fuel More Bitcoin Buys After Strike and Strife Success
Strategy (formerly MicroStrategy) announced plans to raise $250 million through a new preferred stock offering—its third this year—to fund additional Bitcoin purchases and general operations. The "10% Series A Perpetual Stride Preferred Stock" (ticker: STRD) will be listed on Nasdaq at $100/share, offering a 10% annual dividend yield (non-cumulative), paid quarterly starting Sept 30.
This follows the company’s earlier $723M+ STRK and STRF offerings, all part of its aggressive Bitcoin acquisition strategy. Strategy now holds over $61 billion in Bitcoin and has no cap on future purchases. However, it warns that price volatility or unrealized gains could expose it to financial and tax risks under the Inflation Reduction Act.
Swan Shortie of the Day
Event of the Day
![BTC Prague 2025 Discount Code [DISCO] – 10% Off - Discotech - The #1 Nightlife App](https://substackcdn.com/image/fetch/$s_!i2m8!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9e7a0138-4ff1-4e24-8059-19948bce9541_1500x500.jpeg "BTC Prague 2025 Discount Code [DISCO] – 10% Off - Discotech - The #1 Nightlife App")
BTC Prague 2025 is Europe's premier Bitcoin-only conference, scheduled for June 19–21, 2025, at the PVA Expo in Prague, Czech Republic. Now in its third edition, the event is expected to draw over 10,000 attendees, featuring more than 200 speakers across multiple stages, and hosting over 100 Bitcoin-focused companies.
What to Expect
Business Day (June 19): A dedicated pre-conference day tailored for entrepreneurs, investors, and developers, offering strategic insights into integrating Bitcoin into various business operations.
Main Conference (June 20–21): Two days of keynotes, panel discussions, and presentations from leading figures in the Bitcoin space, including:
Michael Saylor (Executive Chairman of MicroStrategy)
Adam Back (CEO and Co-founder of Blockstream)
Jack Mallers (Founder and CEO of Strike)
Mark Moss (CEO of Market Disruptors)
Jimmy Song (Bitcoin Developer)
Roman Reher (Founder and CEO of Blocktrainer)
Expo Hall: An extensive exhibition area featuring over 100 Bitcoin companies showcasing their latest innovations and services.
Networking Opportunities: Attendees can connect with like-minded individuals, industry leaders, and innovators through various networking events and a dedicated mobile app with smart matchmaking tools.
Side Events
BTC Prague 2025 offers a range of side events to enhance the conference experience.
Dev/Hack/Day (June 18): A one-day event for developers and tech enthusiasts to explore cutting-edge Bitcoin technologies.
Cypherpunk Meetup (June 19): A gathering for privacy advocates and freedom seekers to discuss topics related to digital privacy and Bitcoin.
Run For Hal (June 19): A 5km social run through Prague's Old Town, honoring Bitcoin pioneer Hal Finney.
Self Custody Celebration (June 20): A meetup focusing on Bitcoin self-custody, featuring expert insights and a lively celebration.
Saturday After Party (June 21): An event to conclude the conference with music, drinks, and networking opportunities.
Tickets
Various ticket options are available at BTC Prague.
Conference Pass (€345): Access to the two-day main conference, including all stages and networking areas.
Business Pass (€595): Includes all Conference Pass benefits plus access to Business Day and additional networking opportunities.
VIP Pass (€1,820): All-inclusive access with added perks such as VIP lounge, exclusive Q&A sessions, premium seating, and concierge service.
A 5% discount is available for payments made in Bitcoin. For more details and to purchase tickets, visit: btcprague.com.
Meme of the Day
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