Bitcoin’s upward momentum continues as it recently hit a new all-time high of $111,970 on May 22 before retreating slightly to $110,700. Now hovering around $108,000, analysts believe the next major level could be $115,000.
Bitcoin Layer-2s Unlock New Utility
Unlike previous bull runs driven by speculation, the current rally is marked by real infrastructure development in Bitcoin DeFi. Trust Machines COO Rena Shah notes that more than 2,000 BTC have been bridged to Stacks sBTC, allowing holders to earn yield without selling their assets.
“Users want to earn from BTC without losing exposure. Bitcoin DeFi is now making that a reality,” said Shah.
Matt Mudano, CEO of Arch Network, echoed this sentiment. “In past cycles, BTC sat idle. Now, Bitcoin is being put to work across DeFi protocols thanks to L2s and native smart contracts.”
From Passive Store to Active Capital
Bitcoin is becoming productive capital. With platforms like Arch and Botanix, BTC can be used for lending, earning yield, and minting stablecoins without exiting positions.
“Today, Bitcoin is powering real financial applications,” Mudano explained. “It’s not about scarcity anymore—it’s about utility.”
For example, Botanix enables BTC-backed stablecoins like pUSD, which provide liquidity while preserving asset ownership. Stacks-based platforms like Granite also enable borrowing against BTC without liquidation risk.
Builders Take the Lead
Developers are spearheading this movement with tools like ZK-rollups and Bitcoin-native smart contracts. “There’s no central foundation,” said Mudano. “Progress depends on builders creating new paths.”
Shah pointed to Stacks’ SIP-031 and new roadmap as signs of a maturing ecosystem.
Obstacles Remain
However, challenges persist. Bitcoin’s limited programmability and skepticism from purists slow adoption. But the growing wave of experimentation and education is starting to shift sentiment.
As Mudano put it, “This bull run isn’t just making Bitcoin valuable—it’s about using Bitcoin to build the future.”
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