Remember when you could buy teslas, steam games, Microsoft computers etc with Bitcoin? We've seen a drastic reduction in Bitcoin as a medium of exchange and a huge increase of ETFs, Bitcoin treasury companies, and push for strategic reserves. It seems to me the order is more akin to medium of exchange - > store of "value" - > complete corporate and regulatory capture.

not according to Mises. you just drunk the Saifedean koolaid

"The functions of money as a transmitter of value through time and space may also be directly traced back to its function as medium of exchange." The Theory of Money and Credit

According to Rothbard the store of value function is derived from the medium of exchange function. When a money is widely accepted people are willing to store it cause they know they can buy things in the future. This would make it Medium of exchange -> store of value -> unit of account Thoughts?