“It’s just becoming clear to the smartest investors in the room, that denying Bitcoin is like denying the internet 20 years ago and it’s a mistake and you’re going to get left in the dust.”— Nik Bhatia
Location: RemotelyDate: Wednesday 18th NovemberCompany: USC Marshall School of BusinessRole: Adjunct Professor of Finance
After dropping to lows of ~$4000 when markets went into freefall following the coronavirus outbreak, Bitcoin has bounced back to a near to all-time high of ~$18,500.
The impact of the pandemic on the economy has been a massive increase in government borrowing and money printing. This response has highlighted the importance of scarce assets which can't be debased.
Gold has historically been the safe-haven asset that money flows into during times of uncertainty. However, many are now turning to Bitcoin, and it is quickly eating into gold's market share.
In a world of fiat currencies, gold and the impending rise of central bank digital currencies, where does Bitcoin fit?
Nik Bhatia has written Layered Money a book looking into this that will be released early in 2021. We discuss his book, where Bitcoin fits in the monetary system, the history of government control over money and central bank digital currencies.
This episode’s sponsors:
Kraken - The best place to buy, sell & trade BitcoinBlockFi - The future of Bitcoin financial services Sportsbet.io - Online sportsbook & casino that accepts BitcoinCasa - The leading provider of Bitcoin multisig key security.
WBD281 - Show Notes
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