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The Future of Money Is Bitcoin and CBDCs, Feat. Nik Bhatia

Nik Bhatia, author of the best-selling book Layered Money, explains why Bitcoin will be worth $1 million and why asset managers have a fiduciary duty to invest.

May 1, 2021

This week, “Opinionated” co-hosts Ben Schiller, Anna Baydakova and Danny Nelson are talking to Nik Bhatia, an Adjunct Professor of Finance and Business Economics at the University of Southern California Marshall School of Business.

This episode is sponsored by and The Sun Exchange.

His book, "Layered Money: From Gold and Dollars to Bitcoin and Central Bank Digital Currencies" is freshly in print this year, and Nik has plenty of bold and controversial ideas to share.

Nik recently wrote two thought-provoking op-eds for CoinDesk about the future of bitcoin. One of them, “Why $1 Million Bitcoin Is Coming” is a projection of forces affecting bitcoin’s upcoming growth. In particular, Nik believes MicroStrategy’s and Tesla’s bitcoin purchases resulted in big increases in bitcoin’s price – increases that he sees continuing as new companies and even central banks start buying in.

If we expected more big enterprises to join the party, are we looking at $1 million bitcoin? Or is it too bullish? Nik guided us through his journey of understanding bitcoin and why he thinks it will be a base layer to the future financial system.

Bitcoin’s volatility is not going anywhere in the future, Nik believes. But that shouldn’t stop traditional asset managers from buying it, because they are buying a share in the world’s financial future. And in this future, the national currencies might become central bank digital currencies (CBDC), and bitcoin will be a global standard to weigh against those national

We discuss these and more bold ideas, how people should invest in bitcoin and how the world will treat bitcoin in the years to come. Enjoy the conversation and definitely check out Nik’s pieces, “Why $1 Million Bitcoin Is Coming” and “Asset Managers, Owning Bitcoin Is Now Your Fiduciary Duty.”

Nik Bhatia’s Twitter handle is: @timevalueofbtc.

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