Spartan Group: Important L2 developments such as Stacks Nakamoto will unlock huge value potential for Bitcoin

On October 24, at the "Bitcoin Builders Hong Kong" event jointly organized by Stacks, ALEX, Xverse, and Spartan Group, Spartan Group Associate Yan Ma said that the current market value of BTC is only the tip of the iceberg of Bitcoin's economic value, because innovations such as Ordinals has inspired a culture of Bitcoin builders. Some "fundamentalists" may not want Bitcoin's "value storage" and other characteristics to change, but I want to emphasize that the value storage attribute of Bitcoin as an asset can be discussed separately from the orbit. The original important features have not changed and will not change at L1, but at L2 or other levels, today's Bitcoin has more possibilities. Bitcoin L2 such as Lightning Network, Stacks, Rootstock, and Liquid are developing rapidly, especially the Stacks Nakamoto upgrade maintained by more than 40 full-time developers. Its release will be an important upgrade and will launch a decentralized and trustless native sBTC linked to Bitcoin 1:1 to release the flow potential of Bitcoin between L1 and L2. L1 is like a cold wallet. Most of the Bitcoins are stored in the cold wallet. If transactions are needed, they can be quickly transferred to L2 through sBTC to perform various DeFi operations.