I’ve been thinking a lot about Bitcoin L2s, and my thesis is simple. The leading #BTC L2 will be bigger than any $ETH L2. Because BTC L2s are about programmability, Bitcoin L1 is great money but lacks privacy, UX, and DeFi. Whoever builds the dominant execution layer on top of it captures one of the biggest markets in crypto. Here’s how I break it down 👇 1⃣ BTC L2 TAM > ETH L2 TAM ETH L2s: extend Ethereum, but ETH L1 already has programmability. BTC L2s: add programmability where none exists. That’s a bigger unlock than cheaper gas. 2⃣ Security matters more and earlier ETH L2s grew by serving degens who didn’t care about 3/5 multisigs. BTC can’t repeat that playbook. Capital won’t move without secure bridges. The L2 that nails this becomes the default execution layer for BTC. 3⃣ Recent breakthroughs change the game BitVM2 + optimistic-ZK bridges → practical Bitcoin rollups. 4⃣ The contenders → @Strata_BTC: zkEVM rollup on Bitcoin with hybrid optimistic-ZK bridge. Backed...
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