Fees Are the New Block Reward: How to Play It

[ed]

Jimmy Song doubts Taproot’s value. Ordinals leader Leonidas counters: “We’ve already added $500M in fees.”

That’s not trivial — block rewards halve every ~4 years. Long-term network security = fees must rise.

Data shows:

Daily fees: $3K → $537K in 2025

Peak: $9.99M (Dec 2023, inscription mania)

Money angle:

Traders: Ride volatility in Ordinal-minting seasons → massive fee-driven activity

Miners: Strategically allocate hashrate during inscription peaks

Investors: Bet on protocols leveraging Taproot (e.g. BitVM, Ark) as next fee engines

The path to profit: Treat Bitcoin not only as a store of value — but also as a scarce blockspace commodity.