Bitcoin’s surge in price has garnered the recognition it merits as a reliable store of value. For ten years, Bitcoin has stood out as the top-performing financial asset globally. The 21 million supply cap strategically positions it to serve as a safeguard against inflation. Another essential aspect of money is its function as a medium of exchange — the everyday utilization of money to trade goods and services. Consider the currency you possess, and the freedom it grants you to visit any local store and purchase whatever you desire. Historically, Bitcoin has faced challenges in this area. Many solutions focus on the exchange of gift cards or alternative currencies for Bitcoin, presenting a somewhat cumbersome approach to bridging this gap.
Bitcoin exhibits density in certain areas, notably on platforms like Nostr and within specific online services that prioritize privacy, including Proton, Mullvad VPN, and LNVPN. El Salvador, the first country to embrace Bitcoin as legal tender, has experienced significant adoption, with a growing number of merchants now accepting Bitcoin. However, the law has experienced a varied reception and has not been applied consistently. It is indeed ironic to acknowledge that a nation-state might play a role in compelling the adoption of Bitcoin, which is an open-source monetary network that champions voluntary principles.
Currently, two significant forces are driving the adoption of Bitcoin as a medium of exchange. One is the embrace of Bitcoin by merchants. An increasing number of physical merchants are embracing Bitcoin, a platform that leverages open-source mapping to identify which merchants are currently accepting Bitcoin. More and more locations are emerging where individuals can sustain their lifestyles using Bitcoin, allowing them to trade it for a majority of their everyday necessities. The emergence of circular economies is notable, as they integrate local Bitcoin meetups with a community focused on coming together to utilize Bitcoin for transactions. Participants in that economy are likely to provide services and goods priced in Bitcoin, engaging in transactions with one another using Bitcoin. A rising trend is emerging where individuals are increasingly opting to receive their salaries in Bitcoin. These hubs are located globally, with a presence in Uganda and others stretching all the way to Vancouver.
In Vancouver, Canada, over a hundred merchants in the area are now accepting Bitcoin directly, utilizing solutions like locally developed coinos. The array of merchants includes tanning salons, a gym, and several barbershops. A variety of restaurants and cafes now accept Bitcoin, allowing you to buy anything from ice cream to sandwiches. Leo Weese, shares his perspective that “Vancouver is not a special place.” We are not isolated, do not experience exceptionally high inflation, financial repression, or possess a significant concentration of Bitcoin companies. “If a circular Bitcoin economy can thrive in this region, it has the potential to succeed across all of North America.” In Uganda, you can pay to see gorillas using Bitcoin exclusively. A tour company and a juice company are both accepting Bitcoin as a form of payment. In a notable development beyond tourism, a local orphanage catering to 77 orphans has embraced Bitcoin, successfully raising over 40 million satoshis, which equates to around $25,000 USD as of September 2025. Kampala’s capital is home to various businesses and a school that is embracing Bitcoin education, currently engaging 115 children in its program.
A fund dedicated to circular economies in Africa has been established for Bitcoin, known as the Circular Bitcoin Africa Fund. This initiative aims to stimulate growth throughout the continent, where circular economies centered around Bitcoin are emerging from Zambia to South Africa and beyond. As of September 2025, at least nine countries in Africa have set up a circular Bitcoin economy hub. In May 2025, the fund was backing around 24 grassroots initiatives throughout Africa that employed Bitcoin as a means of exchange. Initiatives such as Bitcoin Babies offer financial support to mothers with infants under one year old, delivering additional funds via Bitcoin. This cryptocurrency can be utilized for transactions with local vendors who accept Bitcoin as a form of payment.
Brindon Mwiine, stated: “Africa needs Bitcoin, and Bitcoin needs Africa.” “The medium of exchange aspect is definitely much more prominent on the continent than I think elsewhere.” With the twin pillars of circular Bitcoin economies and the increasing number of merchants embracing Bitcoin, the cryptocurrency is set to challenge the prevailing narrative that it merely functions as a store of value. Instead, it is emerging as a true medium of exchange, facilitating trade in goods and services among individuals. The rise of Bitcoin as a form of currency is a trend that certainly deserves attention.