The Bitcoin Layer

In this episode, Nik welcomes Vaughn Kellerman of Sound Advisory to discuss financial planning for Bitcoin holders. With Bitcoin’s fixed supply of 21 million, they explore strategies for managing taxes, estate planning, and retirement while minimizing risk. Vaughn breaks down tax-efficient selling, inheritance planning, and portfolio structuring to balance Bitcoin with traditional assets. They als...

In this episode, Nik welcomes back Michael Howell, founder of CrossBorder Capital and author of Capital Wars, to discuss global liquidity and the mounting case for a U.S. gold revaluation. Howell explains why M2 is outdated, highlighting the shift to asset-based liquidity as a better market gauge. They explore the U.S. debt spiral, pressure on the Fed to resume QE, and China’s role in shaping liqu...

In this episode, Nik sits down with Matt Pines, the new Executive Director of the Bitcoin Policy Institute, to discuss the U.S. government's evolving Bitcoin strategy. They break down the push for a Bitcoin strategic reserve, the political forces shaping policy, and why Bitcoin is essential for economic resilience. Matt explains how government agencies are aligning on Bitcoin’s role, the potential...

📚 Bitcoin Age is available for pre-order now: https://www.amazon.com/dp/B0DQK2RQ5J The Bitcoin Layer and its guests do not provide investment advice.

In this episode, Nik delivers a global macro update as Bitcoin tumbles over 12% this week, down more than 20% from all-time highs. He breaks down the drivers behind this pullback, from shifting risk sentiment to key technical levels, and what it means for the broader market. Nik also unpacks the latest stock market weakness, the sharp drop in Treasury yields, and emerging policy signals from the W...

Bitcoin Age is available for pre-order now: https://www.amazon.com/dp/B0DQK2RQ5J The Bitcoin Layer and its guests do not provide investment advice.

In this episode, Nik delivers a global macro update as Bitcoin coils for its next major move, with key indicators flashing signals of imminent volatility. He analyzes Bitcoin’s price action relative to its 200-day moving average and short-term holder realized price, revealing why the market is primed for expansion. Nik examines ETF-driven on-chain movements, breaking down how institutional flows a...

In this episode, Nik explores the growing movement among U.S. states to establish strategic Bitcoin reserves, with 20 proposed bills representing up to $23 billion in potential Bitcoin purchases. He breaks down the states pushing these initiatives, the legislative progress of key bills, and the impact of these reserves on state budgets and pension funds. The discussion moves to the broader implica...

In this episode, Nik unveils a bold idea to split the U.S. dollar, separating the eurodollar system from a new national currency. Before diving in, he breaks down key economic shifts shaping Bitcoin, including the administration’s focus on productivity, deregulation, and credit expansion. The discussion moves to government efficiency, Elon Musk’s audit of federal spending, and how cutting waste co...

In this episode, Nik answers questions from Augustine Carrasco, TBL’s own researcher, on U.S. Treasuries, sovereign wealth, and Bitcoin’s role in government reserves. Nik breaks down the Treasury market’s size, liquidity, and the need for continuous debt issuance, explaining how deficits, interest rates, and market demand shape economic policy. The discussion moves to tariffs, their impact on infl...

In this episode, Nik unpacks one of the most seismic shifts in U.S. economic history—the creation of America’s first sovereign wealth fund. He analyzes what this means for national investment strategy, why it represents a fundamental break from past economic policy, and how it could serve as the ultimate vehicle for Bitcoin accumulation and infrastructure investment. With policymakers already expl...

In this episode, Nik Bhatia sits down with TBL’s correspondent in Africa, Noelyne Sumba, for an in-depth look at Bitcoin adoption across Africa, from thriving circular economies to major mining developments. Noelyne shares insights from her trip to South Africa, where Bitcoin-friendly communities are boosting local economies and major retailers are adopting BTC. The discussion moves to Ethiopia’s...

In this episode, Nik Bhatia and Eric Wallerstein analyze the complexities of the current US economy, examining key factors shaping market trends, monetary policy, and Bitcoin's evolving role. They break down stock market dynamics, the Federal Reserve's potential path for interest rates, and treasury yields. The discussion also highlights the transformative ® and its implications for equity markets...

In this episode, Nik breaks down the latest Fed meeting and Jerome Powell’s statement that banks are free to serve crypto customers—sending Bitcoin higher and fueling a major shift in policy. With the Fed holding rates steady and signaling no appetite for further hikes, markets are taking note. Nik explains why stable bond volatility, a cooling dollar, and the broader liquidity picture are creatin...

In this episode, Nik sits back down with David Zell, co-founder of the Bitcoin Policy Institute, to discuss the latest developments in Bitcoin’s intersection with U.S. policy and global influence. They begin with Ross Ulbricht’s release, a victory that highlights the political momentum of Bitcoin advocates, and the recent executive order that acknowledges Bitcoin as freedom technology. David dives...

In this episode, Nik and Augustine sit down with Ken Sim, the mayor of Vancouver, to discuss his transformation from a Bitcoin skeptic to a passionate advocate. Ken shares his vision for making Vancouver a Bitcoin-friendly city, highlighting Bitcoin's role in addressing economic challenges like affordability and currency debasement. The conversation explores the motion to integrate Bitcoin into th...

In this episode, Nik critiques BlackRock’s recent recommendation of a 2% Bitcoin allocation and explains why this approach undermines the potential of Bitcoin as a transformative asset. He explores traditional portfolio management concepts like the 60/40 allocation and how they fall short in today’s economic landscape. Nik dives into Bitcoin’s historical performance, highlighting how long-term hol...

In this episode, Nik examines Donald Trump’s first day back in the White House, where no announcements were made about a Strategic Bitcoin Reserve or clemency for Ross Ulbricht, leaving Bitcoiners wondering what’s next for the administration’s crypto agenda. Nik explores how Trump’s energy policy, hiring freeze, and broader economic agenda could still pave the way for Bitcoin’s long-term success....

In this episode, Nik Bhatia examines Bitcoin’s return to $100,000, a pivotal moment marking its mainstream adoption. He explores the political and macroeconomic forces driving this surge, including ETF approvals, Bitcoin’s $2 trillion market cap, and the strategic role of state and federal initiatives like a potential U.S. Strategic Bitcoin Reserve (SBR). Nik discusses how Bitcoin’s growing signif...

In this episode, Nik presents a global macro update, unpacking the massive numbers that define the financial system and their implications for Bitcoin. He explores the $36 trillion U.S. Treasury market, $60 trillion equity market, and $120 trillion in global banking assets, illustrating why it’s essential to think in trillions to grasp the true scale of the economy. Nik examines the rising burden...

In this episode, Nik hosts Stefan Rust, founder of Truflation, in a conversation about how inflation is tracked and why current methods fall short. Stefan breaks down the outdated systems used by governments and introduces Truflation’s approach: real-time data collection from millions of items to reflect what people actually experience. They discuss how decentralization and AI are changing the way...

In this episode, Edward Ring, Director of Water and Energy Policy at the California Policy Center, joins Nik to uncover the critical policy failures driving California’s wildfire crisis. From water scarcity to inadequate forest management, Edward highlights the need to shift from scarcity-driven policies to abundance-focused solutions. He critiques California’s regulatory overreach, its detrimenta...

In this episode, Nik welcomes back Yaël Ossowski of the Consumer Choice Center and the Bitcoin Policy Institute to discuss the major themes shaping Bitcoin’s future. They begin with the push for a Strategic Bitcoin Reserve and its potential to redefine Bitcoin’s role in the U.S. financial system. Next, they address key regulatory developments, including shifts at the IRS, the implications of net n...

In this episode, Nik Bhatia welcomes back Joe Burnett of Unchained to explore the critical role of Bitcoin in preserving wealth in a hyper-productive world. They dive into the concept of the innovation trap, where exponential technological advances devalue traditional assets, making Bitcoin’s fixed supply a unique and indispensable store of value. Joe examines how rising productivity impacts goods...

In this episode, Nik Bhatia welcomes Bitcoin anthropologist Natalie Smolenski to explore the profound connection between Bitcoin, human liberty, and peaceful society through an anthropological lens. Natalie unveils how the historical relationship between money and state has shaped human cooperation, and why Bitcoin represents a transformative technology of peace. They examine the evolution of mone...