No Escape from Bitcoin's Gravity with Nik Bhatia

“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 BhatiaLocation: RemotelyDate: Wednesday 18th NovemberCompany: USC Marshall School of BusinessRole: Adjunct Professor of FinanceAfter 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-----If you enjoy The What Bitcoin Did Podcast you can help support the show by doing the following:Become a Patron and get access to shows early or help contributeMake a tip:Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2SQR Codes: BitcoinIf you do send a tip then please email me so that I can say thank youSubscribe on iTunes | Spotify | Stitcher | SoundCloud | YouTube | Deezer | TuneIn | RSS FeedLeave a review on iTunesShare the show and episodes with your friends and familySubscribe to the newsletter on my websiteFollow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTubeIf you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.