Spiral Warns Bitcoin's Payment Capabilities Lag Behind Stablecoins
Jack Dorsey's Spiral raises concerns about Bitcoin's slow progress in payments compared to stablecoins.
Jack Dorsey's Spiral raises concerns about Bitcoin's slow progress in payments compared to stablecoins. Bitcoin (BTC) is trading at ₹76,95,057 ($80,831.00). This is an original Token Times brief based on reporting by Crypto.news, with live market data added, as of Wed, 28 Oct 2026 07:45:01 UTC.
This highlights a critical challenge for Bitcoin's adoption as a transactional currency, potentially impacting its long-term utility and market positioning against stablecoins.
- Spiral emphasizes Bitcoin's need to evolve beyond digital gold status.
- Lightning Network TVL at $277.3M but growth remains slow.
- Call for ambitious innovation to boost Bitcoin's payment capabilities.
Jack Dorsey's Spiral has issued a warning that 
Bitcoin is falling behind stablecoins in the race for mainstream payment adoption. The statement underscores concerns that Bitcoin's current trajectory may not be sufficient to establish it as a widely-used currency for everyday transactions.
Spiral's warning comes despite the growth of the Lightning Network, which currently has a total value locked (TVL) of $277.3M, according to DeFiLlama. While the Lightning Network represents a significant step towards enhancing Bitcoin's transaction capabilities, its growth has been relatively modest, with a 7-day decrease of 4.4%.
Coinfomania corroborates the sentiment, reporting that Dorsey emphasized the importance of Bitcoin serving as a currency rather than just a store of value. This perspective suggests a broader strategic concern about Bitcoin's market positioning and its ability to compete with the rising popularity of stablecoins for transactional purposes.
The call for innovation in Bitcoin's payment capabilities reflects a growing recognition of the need for more ambitious solutions to drive adoption. This is particularly relevant given the current market context, where the total crypto market cap stands at $2.78T and Bitcoin's price is at $48,081, showing a 24-hour increase of 1.26%.
The broader market sentiment, as indicated by the Fear & Greed Index at 51 (Neutral), suggests a cautious optimism. However, the challenge for Bitcoin remains significant as it seeks to balance its role as a digital gold with the need to become a more versatile payment solution.
Since this brief published about 2 hours ago, Bitcoin (BTC) has moved from ₹76,93,153.46$80,811.00 to ₹76,95,057.45$80,831.00 — +0.02%.
The chart plots BTC's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
Will Bitcoin reach $82,500 in October?
Crowd-implied probability on Polymarket, ₹8.89M 24h volume, resolves Nov 1 — snapshotted when this brief published (Oct 28 06:05 UTC). A market price reflects what traders collectively expect; it is not a forecast by Token Times and will have moved since. View the market ↗
At today's peer-to-peer rate, 1 BTC ≈ ₹8.11M (about $80,831.00), up 1.6% over 24 hours. The rupee itself trades about 5.4% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · October 28, 2026.
Token Times reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Spiral Warns Bitcoin's Payment Capabilities Lag Behind S — questions & answers
What is Spiral's main concern about Bitcoin?
Spiral is concerned that Bitcoin is losing ground to stablecoins in the payments space.
How much is the Lightning Network's TVL?
The Lightning Network's TVL is $277.3M, down 4.4% over the past week.
What does Dorsey suggest for Bitcoin's future?
Dorsey suggests that Bitcoin must evolve beyond being just digital gold to remain relevant as a currency.
How much is 1 Bitcoin worth in rupee today?
About ₹8.11M at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $80,831.00. The rupee price moves with both BTC's US-dollar price and the USDT/INR rate; use our Bitcoin in rupee page for any amount.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from Crypto.news. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.