The Bitcoin Layer

In this episode, Nik breaks down the mysterious on-chain movement of 80,000 dormant Bitcoin that last moved in 2011. He walks through the implications of this $8 billion transaction, the legal-sounding op codes attached to it, and the suspicious BCH test transactions that accompanied the event. Nik explores what this means for assumptions about lost coins, private key security, and even the possibility of quantum theft. With analysis from Checkmate at Checkonchain and Cyphertux, this episode unpacks one of the most intriguing Bitcoin stories of the year—and why the price hasn’t yet reacted.🔗 Links & Sources:• Checkmate’s Write-up on the 80K BTC Move:https://newsletter.checkonchain.com/p/eighty-thousand-ancient-bitcoin• Cyphertux Deep Dive (OP_RETURN Analysis):https://www.cyphertux.net/articles/en/research/bitcoin-80k-btc-mystere-opreturn📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch⛓️ ₿lock Height 904626⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrballResearcher Demian Schatt's Twitter: https://x.com/demianschattLead Statistician Augustine Carrasco Twitter: https://x.com/AugustineCarrB The Bitcoin Layer and its guests do not provide investment advice.

In this episode, Nik is joined by TBL researcher Demian Schatt to unpack why Bitcoin is trading so strongly near all-time highs and what the current liquidity setup tells us about where things are headed. They explore the long-debated link between Bitcoin and M2, examine how banking system assets play into TBL’s liquidity model, and walk through the balance sheet mechanics behind Treasury issuance, stimulus, and deposit creation. Nik explains why both M2 and asset-based liquidity matter, and how understanding the plumbing gives investors an edge. The update ends with a technical look at Bitcoin’s recent breakout and what a summer rally could mean for the cycle.Links: https://www.youtube.com/watch?v=rdaAoiH8nCIhttps://www.bitcoinstimulus.net/📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch⛓️ ₿lock Height 903875⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrballResearcher Demian Schatt's Twitter: https://x.com/demianschattLead Statistician Augustine Carrasco Twitter: https://x.com/AugustineCarrB The Bitcoin Layer and its guests do not provide investment advice.

In this episode, Nik highlights the work of Daniel Batten and walks through 17 examples of mainstream media outlets covering Bitcoin mining in a dramatically more positive light. From Iceland’s renewable-powered farms to flared gas in Texas and hydro-powered villages in Africa, the headlines signal a major shift in narrative. Nik explores how governments like Bhutan are using Bitcoin mining to support economic development, how miners are contributing to energy grids, and how the sector is increasingly seen as a catalyst for sustainability and electrification. This update reflects growing global recognition of Bitcoin’s potential as a public good.Link to Tweet: https://x.com/DSBatten/status/1939798927630291405📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch⛓️ ₿lock Height 903574⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrballResearcher Demian Schatt's Twitter: https://x.com/demianschattLead Statistician Augustine Carrasco Twitter: https://x.com/AugustineCarrB The Bitcoin Layer and its guests do not provide investment advice.

In this episode, Nik breaks down the latest global macro developments driving Bitcoin’s price action and Treasury market conditions. He explores major trade news out of Europe and China, the U.S. agenda to rebalance global trade through weapons exports, and what a new regulatory change means for U.S. bank demand for Treasuries. Nik explains the Fed’s SLR update, Treasury repo mechanics, and why regulatory shifts are designed to reduce foreign reliance on U.S. debt. The update also covers the U.S.–China AI race, Bitcoin mining competitiveness, and a detailed technical look at Bitcoin’s current consolidation trend.Links to Articles:https://www.cnbc.com/2025/06/27/trump-plans-executive-orders-to-power-ai-growth-in-race-with-china.htmlhttps://www.scmp.com/news/china/article/3316128/china-and-us-finalise-trade-deal-global-conflict-risk-warning-scmp-daily-highlightshttps://www.cnbc.com/2025/06/27/nato-defense-deal-to-rebalance-eu-us-trade-relations-antonio-costa.htmlhttps://www.zerohedge.com/markets/55tn-balance-sheet-capacity-unlocked-assessing-impact-slr-changes-big-banks📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch⛓️ ₿lock Height 902992⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrballResearcher Demian Schatt's Twitter: https://x.com/demianschattLead Statistician Augustine Carrasco Twitter: https://x.com/AugustineCarrB The Bitcoin Layer and its guests do not provide investment advice.

In this episode, Nik is joined by River’s head of research Sam Baker to discuss “The American Bitcoin Advantage,” a report outlining the United States’ strategic position in Bitcoin adoption. They explore how 40% of Bitcoin’s supply is held by Americans, the growing wave of business adoption, and why Bitcoin is emerging as a preferred treasury asset for companies nationwide. The conversation covers mining investment, bipartisan support in Congress, state-level Bitcoin policies, and how the U.S. can harness Bitcoin as both a technological and monetary advantage in a changing global order.Find the report here: https://blog.river.com/american-bitcoin-advantage/📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch⛓️ ₿lock Height 902665⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrballResearcher Demian Schatt's Twitter: https://x.com/demianschattLead Statistician Augustine Carrasco Twitter: https://x.com/AugustineCarrB The Bitcoin Layer and its guests do not provide investment advice.

In this episode, Nik is joined by TBL's lead statistician Augustine Carrasco for a walkthrough of the latest TBL chart pack, covering the key macro and on-chain dynamics shaping Bitcoin’s current structure. They explore long-term holding returns through the lens of Unchained’s HODL Cave, analyze ETF flows and realized cap trends, and introduce quarterly cycles in the TBL Liquidity Index that may offer timing signals. The discussion also touches on dealer behavior in money markets, financial conditions, and the relationship between macro volatility, inflation expectations, and Bitcoin’s path forward.📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch⛓️ ₿lock Height 902556⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrballResearcher Demian Schatt's Twitter: https://x.com/demianschattLead Statistician Augustine Carrasco Twitter: https://x.com/AugustineCarrB The Bitcoin Layer and its guests do not provide investment advice.

In this episode, Nik welcomes back Matt Pines, executive director of the Bitcoin Policy Institute, for a sweeping analysis of today’s geopolitical storm—and what it means for Bitcoin, global power, and monetary realignment. From Israel–Iran brinkmanship to China’s Belt and Road, Pines explains how great-power conflict is redrawing trade routes, testing U.S. strategy, and accelerating the search for neutral assets. As the world fragments, Bitcoin is emerging as the reserve hedge for a new monetary era—one not built by consensus, but by necessity.📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm.▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch⛓️ ₿lock Height 901931⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtc](https://twitter.com/timevalueofbtc)Creative Director Matthew Ball's Twitter: https://twitter.com/matthewrballResearcher Demian Schatt's Twitter: https://x.com/demianschatt The Bitcoin Layer and its guests do not provide investment advice.

In this episode, Nik welcomes Matthew Sigel, Head of Digital Assets Research at VanEck, to unpack Bitcoin’s shifting ownership landscape. Corporations have now surpassed ETFs as the largest buyers of Bitcoin, adding over 350,000 BTC in the past year, including 21 new treasury firms in just the last month. Matthew explains how this new wave of adoption is transforming capital markets and creating both upside and risk for shareholders. They dive into BitBonds, a proposal to fund a U.S. Strategic Bitcoin Reserve through Treasury issuance, and explore how sovereign Bitcoin mining—from El Salvador to Pakistan—is becoming a powerful tool for resisting IMF influence. The buyers have changed, and so has the role Bitcoin plays. 📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 901551 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Nik Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrballResearcher Demian Schatt's Twitter: https://x.com/demianschatt The Bitcoin Layer and its guests do not provide investment advice.

In this episode, Nik is joined by astrophysicist Giovanni Santostasi to unpack the Bitcoin Power Law Theory—a scientific framework explaining Bitcoin’s price through natural scaling laws. Giovanni argues that Bitcoin doesn’t follow an exponential curve but a power law, just like cities, living organisms, and networks in nature. He walks through six power laws driving Bitcoin’s growth, including the relationship between price, users, and time—pointing to a mathematically grounded path toward $10 million. Backed by physics and real-world data, Giovanni presents a bold theory: Bitcoin is not just an asset—it’s a living, evolving system. Follow Giovanni's Work:- https://giovannisantostasi.medium.com/btc-is-a-power-law-because-it-is-an-infinite-recursive-feedback-loop-5f54de5e501b- https://x.com/Giovann35084111Scale Book: https://www.amazon.com/Scale-Universal-Innovation-Sustainability-Organisms/dp/1594205582 📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 900,865 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Nik Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrballResearcher Demian Schatt's Twitter: https://x.com/demianschatt Chapters:00:00:00 Introduction to Bitcoin Power Law with Giovanni Santostasi00:08:25 Understanding Bitcoin Through Power Laws0:16:34 Analyzing Regression and R-Square in Financial Data0:24:35 Network Mat and the Power of Trees 0:40:10 The Universality of Power Laws in Nature0:47:56 Understanding Power Laws in City and Bitcoin Growth 00:55:53 The Essence of Bitcoin as a Living Organism 01:03:36 Bitcoin's Connection to the Physical World The Bitcoin Layer and its guests do not provide investment advice.

Description: In this episode, Nik answers questions from Demian about the structural drivers behind Bitcoin’s strength near all-time highs. He explains how tightening credit spreads on Strategy’s Bitcoin-backed debt reflect growing investor confidence, and why capital is flowing into Bitcoin through corporate capital structures and yield-bearing instruments. The discussion covers index inclusion, passive portfolio flows, and how Bitcoin exposure is increasingly being built into traditional financial products. Nik also examines Treasury market conditions, real yields, and why Bitcoin depends on credit stability—not chaos—for its next leg higher. 📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 900687 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Nik Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrballResearcher Demian Schatt's Twitter: https://x.com/demianschatt The Bitcoin Layer and its guests do not provide investment advice.

In this episode, Nik answers questions from Demian about the Trump–Musk fallout and what it reveals about the trajectory of U.S. economic policy. He unpacks the politics behind Trump’s budget bill, Musk’s frustration with runaway spending, and how credit expansion continues to power the system. Nik explains why fiscal dominance now drives markets, and how Bitcoin and gold are rising as Treasuries face growing challenges to their role atop the global monetary hierarchy. 📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 900088 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Nik Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrballResearcher Demian Schatt's Twitter: https://x.com/demianschatt Chapters:00:00:00 Key Highlights from Washington DC Visit00:05:25 Bitcoin Valuation Revolution: A New Perspective00:08:03 Political Discrepancies in Campaign Promises 00:12:06 U.S. Budget Priorities: Medicare, Defense, and Social Security00:16:22 Musk's Annoyance with Political Games 00:20:00 Analyzing Trump's Political Strategy and Success00:24:12 The Relationship Between Politics and Economics 00:28:34 Historical Shifts in Global Economic Policy 00:32:56 Bitcoin's Role in the Future of Money00:36:35 Subscribe to The Bitcoin Layer with Nick Batia The Bitcoin Layer and its guests do not provide investment advice.

In this episode, Nik breaks down the current macro landscape through the lens of Bitcoin, interest rates, and market liquidity. He shares new insights from TBL’s proprietary liquidity index, revealing how quarterly cycles in the Treasury market are shaping Bitcoin’s price behavior. Nik also unpacks key valuation metrics like the Mayer Multiple and MVRV, and explains why Bitcoin’s current range suggests a stable foundation. The update covers bond volatility, yield curve dynamics, Fed expectations, gold, oil, and the dollar—placing it all within the broader context of a global monetary reset. 📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 899,704 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Nik Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrballResearcher Demian Schatt's Twitter: https://x.com/demianschatt Chapters:00:00:00 Bitcoin Price and Global Macro Overview 00:02:58 Treasury Market's Impact on Stocks and Bitcoin00:05:44 Revaluing the Economy in Bitcoin00:08:24 Analyzing Bitcoin Valuation with Mayor Multiple00:11:33 Understanding Bitcoin's Cost Basis and MVRV 00:14:30 Geopolitical Tensions and Economic Growth Analysis00:17:21 Understanding the Steepening Yield Curve and Economic Signals00:20:27 Yield Curve Insights: Signal Loss and Economic Indicators00:23:10 Understanding Bretton Woods 3 and the Monetary Reset00:26:08 Anticipated U.S. Regulation on Currency Manipulation The Bitcoin Layer and its guests do not provide investment advice.

In this episode, Nik recaps Bitcoin 2025 in Las Vegas—where the energy wasn’t about price hype, but real-world adoption, corporate treasury interest, and global legitimacy. He shares conversations with readers, the emergence of institutional presence, and what the crowd revealed about Bitcoin’s next phase. Nik closes with a quick technical breakdown of the recent weekly candle and what it may signal for Bitcoin’s near-term price action. 📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 899108 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Nik Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrballResearcher Demian Schatt's Twitter: https://x.com/demianschatt Chapters:00:00:00 Understanding Financial Warfare and the Eurodollar System 00:05:56 The Rise of Eurodollars and Libor System 00:11:21 Financial Warfare and Economic Jockeying 00:17:03 Understanding Treasury Leadership in Abnormal Markets00:23:19 Economic Impact of Consumer Spending and Market Fluctuations 00:28:42 Bitcoin's Role in the Modern Financial System00:35:18 Inflationary Assets in Financial Markets00:40:38 Global Gold Buying Trends: Trump, Putin, and China's Moves 00:46:26 Rebuilding Financial Systems with Gold and Bitcoin The Bitcoin Layer and its guests do not provide investment advice.

In this episode, Nik is joined by Kane McGukin, a traditional wealth manager and longtime Bitcoin writer. They break down the global financial war unfolding through treasuries, stablecoins, and Bitcoin. From the collapse of Eurodollar dominance to the rise of SOFR and secured collateral systems, the U.S. is reshaping liquidity—and weaponizing financial plumbing to defend its position. Kane explains how Bitcoin fits into this new system as a reserve asset, how stablecoins function as Eurodollar 2.0, and why treasuries and gold are being repositioned for strategic leverage. The rules of global money are changing—and this conversation maps the battlefield. Follow Kane: https://x.com/kanemcgukin?lang=en 📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 898062 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Nik Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrballResearcher Demian Schatt's Twitter: https://x.com/demianschatt Chapters:00:00:00 Understanding Financial Warfare and the Eurodollar System 00:05:56 The Rise of Eurodollars and Libor System 00:11:21 Financial Warfare and Economic Jockeying 00:17:03 Understanding Treasury Leadership in Abnormal Markets00:23:19 Economic Impact of Consumer Spending and Market Fluctuations 00:28:42 Bitcoin's Role in the Modern Financial System00:35:18 Inflationary Assets in Financial Markets00:40:38 Global Gold Buying Trends: Trump, Putin, and China's Moves 00:46:26 Rebuilding Financial Systems with Gold and Bitcoin The Bitcoin Layer and its guests do not provide investment advice.

In this episode, Nik breaks down Bitcoin’s explosive move past $110,000 through the lens of candlestick analysis. From foundational concepts to advanced signals, this full lesson in candle behavior uses Bitcoin’s current bull market as a live case study. Nik covers higher lows, resistance breakouts, the Three White Soldiers pattern, and the critical role of weekly shadows in revealing market conviction. The chart comes first, the narrative follows—and the candles have been signaling strength for months. With seven straight green candles and momentum building, price is leading—and the bull market is unfolding candle by candle. Bybit link: https://learn.bybit.com/en/candlestick/best-candlestick-patterns/ 📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 897765 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrballResearcher Demian Schatt's Twitter: https://x.com/demianschatt The Bitcoin Layer and its guests do not provide investment advice.

In this episode, Nik breaks down the quiet force powering Bitcoin’s 2025 bull market: calm in the Treasury market. As bond volatility unwinds, risk assets are thriving. Nik explains how Bitcoin, as a liquidity asset, is tied to Treasury stability through credit creation, term premiums, and the pace of government debt relative to GDP. He covers Bitcoin’s institutional FOMO, the mechanics of the yield curve, and the rising pressure across global markets—highlighted by a growing gold story out of Europe. 📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 897468 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrballResearcher Demian Schatt's Twitter: https://x.com/demianschatt The Bitcoin Layer and its guests do not provide investment advice.

In this episode, Nik answers Demian’s questions about what’s driving Bitcoin’s price in 2025, as ETFs, options, and structured products reshape the bull market. With new pipes built for institutional capital to flow into Bitcoin, financialization is transforming how price behaves—suppressing volatility, changing breakout dynamics, and introducing both long and short positioning at scale. Nik breaks down what this means for on-chain signals, how MVRV still reveals conviction, and why Bitcoin may no longer follow the boom-and-bust cycles of the past. 📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 896896 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrballResearcher Demian Schatt's Twitter: https://x.com/demianschatt Chapters:00:00:00 The Evolution of Bitcoin Financialization00:05:30 The Emergence of Liquidity in Bitcoin Markets00:10:42 The Passive Ownership of Bitcoin in the S&P 500 00:15:56 Understanding MVRV in Bitcoin Valuation 00:21:04 Understanding Bitcoin Market Dynamics and Resistance Zones00:26:12 Analyzing Market Sentiment Through Candlestick Patterns 00:31:27 Unveiling Bitcoin's Origins and Future Potential00:36:42 Understanding Bitcoin Price Narratives00:41:54 Bitcoin's All-Time High and Momentum Trading Strategy The Bitcoin Layer and its guests do not provide investment advice.

In this episode, Nik Bhatia sits down with James Check (Checkmate) to break down the latest shifts in Bitcoin market structure, sentiment, and investor behavior. They explore how the macro landscape and price action are shaping this phase of the bull market, with an emphasis on derivatives, MVRV, and the psychology of unrealized losses. The conversation highlights the transition from mining-driven cycles to behavior-driven dynamics and how corporate treasury strategies are now influencing Bitcoin’s long-term trajectory. Nik and James discuss what recent price ranges reveal about investor confidence and why patience remains key in navigating evolving market conditions. Follow Checkmate's work: https://www.checkonchain.com/ 📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 896486 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrballResearcher Demian Schatt's Twitter: https://x.com/demianschatt Chapters:00:00:00 Understanding Bitcoin's Role in Global Market Shifts00:05:30 Bitcoin Market Trends and Price Analysis00:10:17 Resilience of Bitcoin Holders 00:15:35 Bitcoin Market Cycles and Metrics Explained00:21:24 Understanding ETF Market Dynamics00:25:28 Understanding Bitcoin's Market Dynamics 00:30:30 Market Dynamics and Investor Behavior00:35:46 Covered Call Strategies in the Crypto Market00:40:31 Understanding Bitcoin Capital Flows and Market Dynamics00:45:22 Understanding Heat Dynamics The Bitcoin Layer and its guests do not provide investment advice.

In this episode, Nik Bhatia and TBL Research Associate Demian Schatt unpack how the Federal Reserve actually influences the financial system—and who it serves. They discuss what happens mechanically when the Fed changes rates, why bond market expectations matter more than policy statements, and how the entire credit system is structured to resist deflation. Nik shares insights on the origins of the 2% inflation target, the fragility of the banking system, and how Bitcoin fits into a world built on rolling debt and central bank intervention. The conversation also touches on Larry Lepard’s The Big Print and the growing call for sound money in an era of frequent financial crises. 📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 895999 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Nik Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrballResearcher Demian Schatt's Twitter: https://x.com/demianschatt Chapters:00:05:10 Preventing Market Panic and Unemployment 00:10:24 The Debate on Sound Money vs. Credit System 00:15:40 The Inflation Target Dilemma00:20:52 Understanding the Impact of Stock Prices on Financial Power00:26:42 The Fed's Dual Stakeholders: Banks versus People 00:31:35 Bitcoin's Impact on the Credit System00:37:01 Understanding Credit Creation and Treasury Bills00:42:23 The Federal Reserve's Balance Sheet Dilemma 00:47:33 Understanding Bitcoin as a New Asset Class The Bitcoin Layer and its guests do not provide investment advice.

In this episode, Nik is joined by Bitcoin researcher Daniel Batten to unpack the latest Cambridge report on Bitcoin mining and energy. They reveal how years of misinformation—driven by central banks and amplified by the media—have distorted public perception of Bitcoin’s environmental impact. Drawing on new data, Daniel explains how miners are increasingly using off-grid and stranded energy, stabilizing power grids and accelerating renewable adoption. From landfill methane in Latin America to hydropower in Ethiopia, this conversation highlights Bitcoin’s growing role in global energy innovation. Link to article: https://www.jbs.cam.ac.uk/wp-content/uploads/2025/04/2025-04-cambridge-digital-mining-industry-report.pdf 📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 895700 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrballResearcher Demian Schatt's Twitter: https://x.com/demianschatt Chapters:00:00:00 Misinformation and Bitcoin Adoption00:04:10 The Decline of Bitcoin Crime Narratives00:08:24 Harnessing Stranded Energy with Bitcoin Mining00:12:09 Using Bitcoin Mining for Energy Stabilization 00:16:00 Bitcoin's Environmental Impact: Over estimations and Emission Reductions 00:20:13 Impact of Ethiopia's Dam and Bitcoin Mining on Energy Distribution00:23:52 Expanding Renewable Energy with Revenue from Grid Operators00:27:43 Debunking Bitcoin E-Waste Myths00:32:03 Bitcoin Mining Efficiency and Moore's Law00:36:15 Closing Remarks The Bitcoin Layer and its guests do not provide investment advice.

In this video, Nik Bhatia explores the Eurodollar system through an unexpected lens—a conversation with Grok. Drawing from his own research in Layered Money and Bitcoin Age, Nik traces the origins of offshore dollar finance, explains how Regulation Q and Cold War politics fueled the rise of the Eurodollar market, and examines China’s role in expanding this shadow system through the Belt and Road Initiative. As global capital flows collide with U.S. trade policy and economic reordering, this episode uncovers how the Eurodollar system fits into the broader financial war unfolding today. 📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 895452 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrballResearcher Demian Schatt's Twitter: https://x.com/demianschatt Chapters:00:00:00 Understanding the Euro Dollar System 00:03:41 Understanding the Eurodollar System: A Historical Overview00:07:15 Understanding the Eurodollar System 00:11:09 The Impact of Regulation Q on U.S. Banking and the Eurodollar System00:14:57 The Rise of Eurodollar Banking 00:18:58 Exploring the Eurodollar System 00:22:25 Understanding Euro Dollars and China's Role in Global Trade00:25:45 The Role of Euro Dollars in China's Belt and Road Initiative00:29:03 The Role of Hong Kong in the Eurodollar Market 00:32:18 Bitcoin's Role in the Reordering of Global Trade The Bitcoin Layer and its guests do not provide investment advice.

In this episode, Nik Bhatia sits down with TBL Research Associate Demian Schott to break down Bitcoin’s strong price action despite signs of macroeconomic slowdown. They explore how falling bond volatility, shifting interest rate expectations, and the Fed’s potential rate cuts are boosting risk assets through the TBL Liquidity lens. Nik explains how market certainty affects dealer activity, why lower yields matter for Bitcoin and stocks, and what the two-year Treasury yield is signaling about future Fed policy. The conversation also touches on global trade, Eurodollar flows, and the political dynamics influencing inflation and long-term interest rates. 📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 894944 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrballResearcher Demian Schatt's Twitter: https://x.com/demianschatt Chapters:00:00:00 Bitcoin Performance Amidst Economic Slowdown 00:05:37 Understanding Interest Rate Risk and Duration00:11:06 Understanding Bond Volatility and Bitcoin Performance 00:16:38 Impact of Bond Market Movements on Stocks00:22:10 Impact of Treasury Market on U.S. Economic Policy00:27:35 Economic Slowdown and Rate Cuts Ahead00:32:37 Strategies for Stabilizing Long-Term Inflation 00:38:39 Historical Context of Trump's Political Influence00:44:34 Observing Economic Predictions: Inflation and Stock Market Impacts The Bitcoin Layer and its guests do not provide investment advice.

In this episode, Nik Bhatia and Matt Dines unpack the evolving dynamics of global finance, focusing on gold’s renewed monetary role, the effects of China’s gold market activity, and the broader trend of de-dollarization. They explore how tariffs and shifting trade flows are reshaping global dollar circulation, and examine the interplay between gold, bitcoin, and dollar strength. The conversation also covers the Eurodollar system, Ukraine war financing, and how changes in labor and capital are shaping the current macro landscape. 📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 894654 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrballResearcher Demian Schatt's Twitter: https://x.com/demianschatt Chapters:00:00:00 The Role of Gold in the Global Market 00:07:31 Analyzing the Gold Market Dynamics00:14:27 The Role of Shanghai Futures Exchange in Gold Trading00:22:10 Global Monetary Dynamics: Gold, Bitcoin, and the Dollar 00:29:22 Impact of Tariffs 2.0 on US Economy 00:36:31 Global Currency Strength: USD vs. Non-G7 Currencies00:43:12 Offshore Financing of Ukrainian Sovereign Debt00:50:26 Speculation on National Financing and Interest Rates 00:57:14 Origins of the Bank of England and its Role in War Funding The Bitcoin Layer and its guests do not provide investment advice.

In this video, Nik dives into America’s new financial war on offshore dollar power. He outlines how the Trump administration’s tariffs are just the opening move in a broader strategy to dismantle the Eurodollar system, drain shadow banking liquidity, and force a return to Treasury-backed money. Nik charts the end of 30 years of globalization, the reshaping of global trade, and the early signs of a new monetary world order taking shape right now. 📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 894387 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrballResearcher Demian Schatt's Twitter: https://x.com/demianschatt Chapters:00:00:00 Analyzing the Global Trade Tensions and Tariffs00:02:38 Global Tariffs and Political Motivations00:05:10 US Tariff Strategy and Economic Perspectives00:07:47 Titanium Seed Plates: Rustproof and Customizable 00:10:28 The Debate on Tariffs and Global Trade00:12:55 Unorthodox Economic Policies and Their Impact 00:15:26 Global Sovereign Debt and Interest Rates00:18:03 Understanding the Eurodollar System Interaction 00:20:49 Transition from Unsecured to Secured Money: Implications for Euro and USD Markets The Bitcoin Layer and its guests do not provide investment advice.

In this episode, Nik is joined by Tanvi Ratna, founder of Policy 4.0, to break down the Trump administration’s sweeping new strategy: a global trade, currency, and security reordering. Tanvi brings her unique expertise across geopolitics, supply chains, finance, and emerging tech to explain how the U.S. is shifting from a consumer-driven economy to an industrial powerhouse—while reimagining alliances, shipping lanes, and even the future of the dollar system. They discuss the multipolar world taking shape, the BRICS challenge, de-dollarization, and the rising roles of gold and Bitcoin in a new monetary era. Links discussed in episode:- Follow Tanvi Ratna on X: https://x.com/tanvi_ratna- Link to Bessent speech: https://www.youtube.com/watch?v=SRCsjVlA0VA&t=1s- Hudson bay paper from Miran: https://www.hudsonbaycapital.com/documents/FG/hudsonbay/research/638199_A_Users_Guide_to_Restructuring_the_Global_Trading_System.pdf- Steve Miran speech: https://www.whitehouse.gov/briefings-statements/2025/04/cea-chairman-steve-miran-hudson-institute-event-remarks/- Steve Miran episode: https://www.youtube.com/watch?v=h8znYA7ATlk 📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 893849 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrballResearcher Demian Schatt's Twitter: https://x.com/demianschatt The Bitcoin Layer and its guests do not provide investment advice.

In this Global Macro Update, Nik walks through a massive chart pack to help decode today’s volatile macro landscape. Gold is leading the way, outpacing Bitcoin over the past 12 months and signaling a global monetary reset in motion. Nik connects the dots between soaring gold prices, weakening demand for U.S. Treasuries, and a shift away from dollar recycling as trade relationships are restructured. He analyzes Bitcoin’s technical setup, MVRV valuation, and ETF inflows, and explores how rising bond volatility and term premia are draining liquidity. Plus, new insights on the U.S. energy boom, unemployment pressures, and why the Fed may cut rates even as inflation stays tame. Link to Bessent speech: https://www.youtube.com/watch?v=SRCsjVlA0VA&t=1s 📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 893849 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrballResearcher Demian Schatt's Twitter: https://x.com/demianschatt Chapters:00:00:00 Bitcoin and Gold Performance: A 12-Month Overview 00:03:01 Understanding Gold Price Movements in a Global Economy00:05:42 The Importance of Bitcoin's Decentralization00:08:30 Understanding Bitcoin's Realized Price and Investor Behavior00:11:14 Bitcoin Price Drivers and Realized Price 00:13:49 Evolution of Bitcoin Volatility 00:16:36 The Impact of Bitcoin Bounce and Market Liquidity Trends00:19:11 Understanding M2 and Asset Base Relationship 00:22:01 Changing Dynamics in US Treasury Holdings00:24:52 Impact of US Government Spending Cuts on the Economy00:27:42 Impact of Tariffs on Economic Growth and Inflation00:30:18 Inflation Trends and Market Responses00:33:12 Fed's Rate Cut Strategy and Economic Indicators00:35:56 Impact of US Manufacturing Decline 00:38:32 Path to U.S. Fiscal Sustainability 00:41:13 Bitcoin's Growing Share in Global Equities00:44:04 Conclusion and Farewell The Bitcoin Layer and its guests do not provide investment advice.

In this Global Macro Update, Nik highlights bitcoin’s breakout above a key descending trendline and a textbook bullish divergence on the RSI—two technical signals suggesting the recent downtrend may be losing steam. But the bigger story is gold, which is exploding higher in what looks like the early stages of a full-scale monetary reset. With the dollar breaking multi-year support and massive gold inflows hitting the U.S., Nik explores the possibility of a global repricing, driven by collapsing commercial shorts and currency pressure abroad. He connects the dots between price action, trade war policy, capital charge relief, and the escalating financial war reshaping global asset markets. Link to Tom Luongo Caitlin Long episode: https://tomluongo.me/2025/04/19/podcast-episode-213-caitlin-long-and-the-financial-crisis-that-wasnt/ 📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 893426 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrballResearcher Demian Schatt's Twitter: https://x.com/demianschatt Chapters:00:00:00 Analyzing Bitcoin's Bullish Divergence00:03:37 Bitcoin's Path to New Highs00:07:09 Gold Market Analysis and Breakout Predictions00:10:43 Gold Revaluation and the Global Monetary Reset00:14:17 The Impact of a Weakening Dollar on Gold Prices00:19:00 The Impact of Gold Delivery on Commercial Shorts00:21:32 The Reality Behind a Strong Dollar Policy00:24:46 Presidential Economic Mandate and Currency Manipulation 00:28:08 Origins and Impact of the Euro Dollar System00:31:39 Understanding the Concept of Time The Bitcoin Layer and its guests do not provide investment advice.

In this episode, Nik Bhatia is joined by Demian Schatt to examine why the US Treasury market is fundamentally strengthening despite recent volatility. Nik explains key concepts including SLR reform, Treasury buybacks of off-the-run securities, and current repo market dynamics that are supporting market stability. The conversation also explores how deregulation and fiscal discipline will be crucial for long-term Treasury strength and economic growth. Matt Pines Episode: https://www.youtube.com/watch?v=eTotxDkCvyY 📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 892754 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrballResearcher Demian Schatt's Twitter: https://x.com/demianschatt Chapters:00:00:00 Market Insights with Nik Bhatia 00:05:57 Current Issues in the Treasury Market 00:11:34 Understanding the Role of Treasuries in Banking Liquidity00:17:08 Understanding Treasury Securities: On-the-Run vs. Off-the-Run00:23:13 Understanding Bond Liquidity in the Repo Market00:28:30 Understanding Budget Neutrality and Debt Neutrality 00:33:44 Understanding Repo Markets and Interest Rates 00:38:58 Budget Deficit Reduction Goals00:44:42 Impact of Oil Prices on the Economy The Bitcoin Layer and its guests do not provide investment advice.

In this episode, Nik is joined by Matt Pines, executive director of the Bitcoin Policy Institute, to unpack what could be the biggest shift in U.S. geoeconomic strategy in decades. Together, they explore the vision behind a potential “Bretton Woods 2.0”—a new system emerging from reciprocal tariffs, capital wars, and a shrinking global dollar zone. They dive deep into how the U.S. is building a trade and monetary alliance to isolate China, restructure global capital flows, and re-anchor demand for U.S. Treasuries. With gold, stablecoins, and possibly bitcoin playing growing roles in global settlements, this conversation lays out what a new financial order might look like—and where U.S. policy could be heading next. Links to articles:- https://www.whitehouse.gov/briefings-statements/2025/04/cea-chairman-steve-miran-hudson-institute-event-remarks/- https://www.btcpolicy.org/articles/a-global-economic-reordering-us-china-competition-and-bitcoin-as-tool-of-us-statecraft 📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 892613 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrballResearcher Demian Schatt's Twitter: https://x.com/demianschatt Chapters:00:00:00 Understanding the Breton Woods Reimagined00:06:20 Global Economic and Security Challenges 00:12:21 Understanding the Dual Public Good: Defense and Reserve Currency 00:19:19 Challenges in Global Defense Manufacturing00:25:46 Transition from LIBOR to SOFR: Understanding the Global Benchmark 00:31:02 Understanding Government Dollar Policies00:37:03 International Negotiations: Gold, Bitcoin, and Stablecoins in Currency Talks00:42:53 China's Strategic Devaluation of Yuan and Gold's Role00:48:39 Strategies to Isolate China: Global Economic Alliances00:54:40 Matt Pines and Bitcoin Policy Insights The Bitcoin Layer and its guests do not provide investment advice.

In this episode, Nik Bhatia is joined by Demian Schatt to break down one of the most volatile 48-hour stretches in recent bond market history. As Treasury yields spiked 60 basis points and the MOVE Index surged, Nik unpacks the hidden mechanics behind the dislocation—explaining how a highly leveraged basis trade began to unwind, triggering forced selling and market-wide panic. He walks through the role of China’s currency devaluation, the impact of new 125% tariffs, and how synthetic credit in the swaps market amplified the chaos. With bond volatility ripping, Nik explores what it means for the Fed’s reaction function, financial stability, and bitcoin’s surprising strength. Holding steady at $80,000 through it all, bitcoin is beginning to look like the safe haven asset markets weren’t expecting. 📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 891,705 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrballResearcher Demian Schatt's Twitter: https://x.com/demianschatt The Bitcoin Layer and its guests do not provide investment advice.

In this episode, Nik is joined by PhD economist Peter St. Onge for a masterclass on the strategic use of tariffs in Trump’s economic agenda. Peter explains how tariffs serve as strategic tools, not protectionist measures, to reshape global trade, revive U.S. manufacturing, and drive domestic deregulation. He breaks down America’s asymmetric trade relationships with Europe, China, and Mexico, and outlines why Trump’s approach is grounded in realpolitik. Peter also explores the Fed’s role in enabling crisis-driven spending and how Bitcoin offers a way out of fiat dysfunction. Closing with the global stakes of shifting trade policy, he reveals how tariffs fit into a broader strategy to restore U.S. economic power. 📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 891545 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrballResearcher Demian Schatt's Twitter: https://x.com/demianschatt The Bitcoin Layer and its guests do not provide investment advice.

In this Global Macro Update, Nik Bhatia breaks down one of the most chaotic weeks in markets this year, using price action to explain the forces driving volatility across treasuries, stocks, Bitcoin, and the dollar. He outlines how the recent collapse in 2-year yields to 3.5% confirms that the Fed's hiking cycle is over, with rate cuts still expected even amid a strong labor market. Nik zooms out on the steepening yield curve to show how forward inflation expectations are reentering the market, while bond volatility—measured by the MOVE index—spikes to levels that are now dragging down risk assets. He explains how reciprocal tariffs, a weaker dollar, and the administration's focus on restoring trade leverage all feed into tightening financial conditions. The episode wraps with a close look at key support levels across the S&P 500 and Bitcoin—and what their breakdown could mean for the Fed’s next move. 📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 891404 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrballResearcher Demian Schatt's Twitter: https://x.com/demianschatt Chapters:00:00:00 Introduction to Global Market Volatility 00:05:32 Understanding the Fed's Policy Rate and Market Expectations 00:11:20 Impact of Federal Reserve's Rate Changes on the Economy00:17:06 Impact of Trump Victory on Inflation Expectations00:22:41 Trump's Strategy for a Weaker Dollar00:27:54 Impact of Tariffs on Currency Manipulation and Trade 00:33:38 The Technology Cold War with China 00:38:59 Stock Market Trends and Volatility 00:44:35 Analyzing Bitcoin's Critical Green Trend Line The Bitcoin Layer and its guests do not provide investment advice.

In this episode, Demian Schott welcomes Yaël Ossowski of the Consumer Choice Center and Bitcoin Policy Institute to break down major shifts in U.S. Bitcoin policy. Yaël explains how Congress’s repeal of the IRS’s DeFi broker rule is a win for privacy and innovation, and why a de minimis tax exemption is key to using Bitcoin as real money. He outlines budget-neutral strategies to grow the Strategic Bitcoin Reserve and highlights the need for stablecoin legislation, money transmission reform, and the Keep Your Coins Act. With real momentum in Congress and agencies, Yaël shares why he’s optimistic that lasting reforms are finally underway to protect self-custody and unleash Bitcoin as a parallel monetary system. 📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 890456 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrballResearcher Demian Schatt's Twitter: https://x.com/demianschatt Chapters:00:00:00 Understanding the IRS DeFi Broker Rule and Its Repeal00:04:20 The Importance of Seed Phrase Security 00:08:35 Tax Policy and Bitcoin Adoption00:12:39 Cryptocurrency Lobbying in DC 00:16:50 Strategic Bitcoin Reserve and Policy Focus00:21:00 Bitcoin Adoption by Major Companies 00:25:11 Precautionary Principle in Innovation00:29:27 Understanding Bitcoin's Decentralized Network 00:33:44 Navigating Bitcoin's Legal Challenges00:37:51 Farewell and Future Bitcoin Insights The Bitcoin Layer and its guests do not provide investment advice.

In this episode, Nik explains how the Federal Reserve’s slowdown in quantitative tightening (QT) is impacting Bitcoin and risk markets. He breaks down the balance sheet mechanics behind QT, showing how fewer Treasury runoffs reduce the burden on private investors, leaving more liquidity in the system. With fewer deposits redirected to government debt, more capital remains available for assets like Bitcoin and equities. Citing insights from former Fed trader Joseph Wang, Nik illustrates how even a modest shift in QT can influence market sentiment and asset prices—without any new money printing. Link to article: https://fedguy.com/quantitative-tightening-step-by-step/ 📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 889288 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrball Chapters:00:00:00 Why Bitcoin is Pumping After Fed's QT Slowdown00:01:46 Integrating Self-Custody in Retirement Planning00:03:26 Understanding Quantitative Easing vs. Quantitative Tightening00:05:26 Understanding the US Government Deficit and Debt Dynamics00:07:21 Understanding the Treasury Debt Rollovers and Their Impact on the Fed00:09:06 Understanding the Role of Investors in Treasury Securities00:10:50 Understanding Corporate Bonds and Deposits in the Economy00:12:47 Understanding Treasury and Fed Balance Sheets 00:14:41 Impact of QT Announcement on Bitcoin and Markets The Bitcoin Layer and its guests do not provide investment advice.

In this episode, Nik decodes the Fed’s strategy as Bitcoin surges on the central bank’s decision to slow QT while maintaining its commitment to rate cuts. He breaks down what the Fed’s decision means for liquidity, why banks are holding onto reserves, and how this shift impacts risk assets. Nik also unpacks the latest moves in global bond markets, with Japanese and German yields spiking while U.S. Treasuries remain supported. With TBL’s proprietary liquidity metrics providing key insights, he connects the dots across Bitcoin, stocks, bonds, and global flow to assess what’s next for markets. 📚 Bitcoin Age is here, order yours today: https://a.co/d/5gau08H 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 888560 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrball Chapters:00:00:00 Bitcoin Surges as Fed Adjusts Economic Policy00:03:25 Enhancing Bitcoin Security: The Importance of Seed Phrase Protection00:07:36 Understanding the September 2019 Repo Crisis00:10:44 Jerome Powell's Comments on Money Market and QT00:14:11 Understanding Bank Capitalization and Reserves00:17:46 Bitcoin's Price Surge and Fed's Impact00:21:22 Impact of Mortgage Basis on US Economy 00:25:12 Impact of Tariffs on Inflation00:29:00 Japan's Bond Market Crisis The Bitcoin Layer and its guests do not provide investment advice.

In this global macro update, Nik analyzes the latest economic data and market moves, from recession fears and falling stock prices to Bitcoin’s rebound. He breaks down the drop in consumer sentiment, the wealth effect’s impact on spending, and the yield curve’s steepening as markets price in rate cuts. With Treasury yields falling and gold hitting $3,000, he examines liquidity conditions and shifting inflation expectations. Nik wraps up with Bitcoin’s technical and on-chain indicators, assessing what the latest price action signals for the market ahead. 📚 Bitcoin Age is here, order yours today: https://thebitcoinlayer.com/bitcoinage 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 887829 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrball Chapters:00:00:00 Understanding Market Volatility and Recession Fears 00:03:52 Current State of the US Economy and Consumer Sentiment00:07:36 FED Rate Cuts Expected in 2025 00:11:26 Global Monetary Shifts and China's Gold Strategy00:14:58 Understanding US Treasury Yields and Market Expectations00:18:34 Understanding the US Treasury Deficit and Market Impact00:22:15 Understanding the MOVE Index and Its Impact on Risk Assets 00:26:07 The Impact of Bond Volatility on Market Dynamics00:29:44 Economic Slowdown and Its Impact on Inflation The Bitcoin Layer and its guests do not provide investment advice.

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 also cover capital gains, multi-bucket tax planning, and charitable giving, outlining practical steps to preserve wealth and ensure a seamless transfer of assets. 📚 Bitcoin Age is here, order yours today: https://www.amazon.com/Bitcoin-Age-Nik-Bhatia-ebook/dp/B0DZY38QR1 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 887396 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrball Chapters:00:00:00 Navigating Bitcoin Investment with Sound Advisory 00:03:32 Strategies for Tax Planning with Bitcoin00:06:38 Importance of Seeking Professional Financial Advice00:10:14 Navigating Bitcoin Tax Implications00:13:31 The Role of Estate Planning in Financial Security00:16:39 ETF Strategies for Bitcoin Investors00:20:27 Fiduciary Duty and Bitcoin Investment Strategy 00:23:42 The Epiphany on Bitcoin's Scarcity and Value00:27:23 The Scarcity of Bitcoin Compared to Gold The Bitcoin Layer and its guests do not provide investment advice.

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 liquidity. Howell also examines how a gold revaluation could inject much-needed liquidity into the system as debt levels surge. With tightening financial conditions and shifting risk appetite, this conversation unpacks why liquidity—not interest rates—drives markets. 📚 Bitcoin Age is here, pre-order yours today: https://www.amazon.com/dp/B0DQK2RQ5J 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 886797 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrball The Bitcoin Layer and its guests do not provide investment advice.

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 for funding through gold revaluation, and the broader geopolitical stakes. With Bitcoin at the center of financial and policy debates, this conversation highlights how the U.S. is positioning for a Bitcoin-backed future. 📚 Bitcoin Age is here, pre-order yours today: https://www.amazon.com/dp/B0DQK2RQ5J 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 886335 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrball The Bitcoin Layer and its guests do not provide investment advice.

📚 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 White House. With TBL’s proprietary metric providing critical insights, he connects the dots across Bitcoin, stocks, bonds, and global liquidity to assess what’s next for markets. 📚 Bitcoin Age is available for pre-order now: https://www.amazon.com/dp/B0DQK2RQ5J 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 885460 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrball The Bitcoin Layer and its guests do not provide investment advice.

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 are reshaping liquidity and driving demand. With TBL’s proprietary metric signaling a supportive environment, he connects the dots across stocks, bonds, and commodities, explaining why macro conditions are setting up for Bitcoin’s breakout. 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 884531 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrball The Bitcoin Layer and its guests do not provide investment advice.

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 implications of government Bitcoin adoption, the limited daily supply available, and how these purchases could drive significant price pressure. Closing with insights on global adoption, Nik examines how Bitcoin reserve strategies are spreading beyond the U.S., with signs of interest from Japan, Russia, and other nations. 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 883491 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrball The Bitcoin Layer and its guests do not provide investment advice.

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 could strengthen the Treasury market. Nik then examines the push to eliminate the IRS, the sovereign wealth fund as a potential revenue source, and Bitcoin’s role in this new framework. Closing with his dollar split concept, he explores how a new national currency could break free from the Fed’s global banking system, redefining America’s financial future. 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 883376 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrball The Bitcoin Layer and its guests do not provide investment advice.

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 inflation, and whether ISM manufacturing’s rise signals inflationary pressures. Augustine asks if tariffs are meant to restore U.S. manufacturing, while Nik argues they are driven by geopolitical strategy. Turning to the sovereign wealth fund, Nik examines its ties to China, the risks of moral hazard, and whether Bitcoin could play a role as a strategic reserve in a rapidly shifting global financial order. 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 882497 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrball The Bitcoin Layer and its guests do not provide investment advice.

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 exploring a strategic Bitcoin reserve, Nik examines whether this fund could be the mechanism to bring Bitcoin onto the U.S. balance sheet, following the playbook of energy-rich sovereign wealth funds like Norway and the UAE. He also explores the broader economic and geopolitical implications, from trade war tensions to a potential restructuring of the U.S. financial system—and what this means for markets, investors, and Bitcoin’s future. 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 882234 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrball The Bitcoin Layer and its guests do not provide investment advice.

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 expanding hydro-powered mining sector and Kenya’s shifting stance on digital assets, setting the stage for a broader look at Tether’s role as a financial lifeline, Bitcoin’s impact on energy infrastructure, and the growing influence of U.S. policy on African adoption. As adoption and regulation evolve, Bitcoin’s influence across the continent continues to grow. 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 881688 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrball The Bitcoin Layer and its guests do not provide investment advice.

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. Additionally, they examine the dollar's position in global trade, assess China’s economic struggles, and consider how potential US-China trade negotiations might unfold in this shifting macroeconomic environment. 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 881551 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrball The Bitcoin Layer and its guests do not provide investment advice.

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 creating a strong setup for Bitcoin. As regulatory barriers ease and discussions around a Strategic Bitcoin Reserve escalate, Bitcoin is becoming impossible to ignore in U.S. financial policy. Read Caitlin's latest piece: https://caitlin-long.com/how-to-keep-bitcoin-strategic-reserve-from-morphing-into-a-bailout-fund/ 📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm. ▶️ Subscribe and turn on notifications for TBL on YouTube.📚 Subscribe to TBL’s research letter: https://thebitcoinlayer.com/subscribe🎧 Subscribe to The Bitcoin Layer on your favorite podcast platform.📱 Follow TBL on X: https://twitter.com/TheBitcoinLayer📩 Join the official TBL channel on Telegram: https://t.me/thebitcoinlayerofficial🧢 Use code TBLYT10 for 10% off all The Bitcoin Layer Merch at http://TheBitcoinLayer.com/merch ⛓️ ₿lock Height 881423 ⚡ Contribute to The Bitcoin Layer via Lightning Network: [email protected] Bhatia's Twitter: https://twitter.com/timevalueofbtcCreative Director Matthew Ball's Twitter: https://twitter.com/matthewrball The Bitcoin Layer and its guests do not provide investment advice.