The dominant narrative today is that Bitcoin’s primary use case is as a store of value. This is the “digital gold” story: Bitcoin is sound money and can do everything gold can—but better. The store-of-value argument drives much of the narrative at Bitcoin treasury companies, which hold it for its superior monetary properties rather than for trading.

Remember, the white paper was titled Bitcoin: A Peer-to-Peer Electronic Cash System. Cash is for exchange, not storing value.