Bitcoin Treasury Companies Should Lean Into the Lightning Network

Why It Matters

For treasurers, this represents a way to keep capital liquid and revenue-generating while supporting broader Bitcoin payment infrastructure and accelerating network effects that could boost adoption and long-term value.

Summary

Voltage executive Bobby Shell argues that corporate Bitcoin treasuries should shift from passive holdings to active use on the Lightning Network, deploying idle BTC into liquidity channels to earn native, noncustodial yield via routing fees and transaction-volume rewards. The move is bolstered by real-world adoption signals — Square enabling Lightning payments for 4+ million merchant terminals starting Nov. 10 and Cash App reporting 25% of its Bitcoin payments over Lightning — which together increase demand for channel liquidity. For treasurers, this represents a way to keep capital liquid and revenue-generating while supporting broader Bitcoin payment infrastructure and accelerating network effects that could boost adoption and long-term value.