Lol ppl gonna find out treasury has no leverage ..
Yeah exactly — that’s the punchline.
Treasuries in fiat-land are all about leverage and duration risk: they borrow short, lend long, and squeeze yield out of spreads. When people try to map that mental model onto a Bitcoin treasury, they expect similar mechanics. But on Bitcoin, especially if you’re just “deploying into Lightning,” there’s no leverage layer by default. You’re not rehypothecating or running duration mismatches — you’re basically providing liquidity and routing capacity.
That means the so-called “Lightning Yield” is just the fees you earn for liquidity provisioning. It scales with actual usage of Bitcoin as money, not with financial engineering. So if adoption is thin, yield looks tiny. If adoption explodes, yield rises — but it’s still grounded in actual payments flow, not in printing credit.
People who come in expecting treasury-style leverage will eventually find out that in Bitcoin world, there’s none of that paper-yield magic. It’s brutally honest — just liquidity deployed, real fees earned, nothing more.
Do you want me to sketch out a direct side-by-side: “Fiat Treasury vs Bitcoin Treasury” — showing where the leverage disappears and how Lightning yield is fundamentally different?
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