Listen to this Episode:
Nik Bhatia, a renowned Bitcoin thinker and economist, joined this episode of the Bitcoin Magazine Podcast to discuss the recent MicroStrategy corporate bond announced to buy more bitcoin. Bhatia has a deep history in the bond world, and explained that this is only the beginning of bond issuance for Bitcoin purposes, emphasizing that corporations can issue bonds for any purpose they can justify to investors.
He then turns into his new book, “Layered Money,” which is currently available for prescribing. Bhatia explained how the current financial system is built in layers and how bitcoin is the first new asset living entirely outside the current system.
Finally, Bhatia answered some cosmic questions about the future of money and what a Bitcoin-based financial system looks like.
Topics covered in this chapter include:
- The fact that bitcoin is such a unique asset because it is not a liability on someone else’s balance sheet
- MicroStrategy buys bitcoin and what that means for the bond market
- People call it a “speculative attack,” but Bhatia calls it “arbitration”
- The fact that we can see many types of companies issuing bonds to buy bitcoin and their reasoning will vary completely
- Atomic exchanges that make all crypto assets interoperable
- Bitcoin exists outside the system which is why we can build on it
Find Nik Bhatia on Twitter.