Stephan Livera Podcast LQWD’s Strategy: Lightning Network and Bitcoin Treasury with Shone Anstey | SLP689
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Sep 3, 2025 Shone Anstey, CEO of LQWD and a Bitcoin veteran since 2011, shares his insights on the evolution of his company from a Lightning Network service provider to a Bitcoin treasury. He discusses the significance of the Lightning Network for instant transactions, strategies for Bitcoin accumulation, and the potential of Bitcoin to address global economic challenges. Anstey also highlights unique opportunities in the Canadian market and elucidates important metrics like mNAV and Sats per share for assessing treasury companies.
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From Early Internet Tech To LQWD
- Shone traced his Bitcoin journey back to 2011 and internet tech roots, which shaped his view of Lightning as the internet payment layer.
- He founded LQWD in 2019 to build Lightning infrastructure and later leveraged public markets to buy Bitcoin.
Bitcoin As A Trust Layer For The Internet
- Bitcoin functions as a trust protocol that extends the internet's plumbing and enables new money-layer use cases.
- Shone Anstey argues this makes Bitcoin a fundamental internet infrastructure, not just an asset.
Lightning Necessitates A Bitcoin Treasury
- Lightning nodes require Bitcoin collateral, so LQWD has always been a treasury company by necessity.
- Operating Lightning infrastructure naturally led them to accumulate and protect Bitcoin on their balance sheet.