Store of Bitcoin - Bitcoin as Store of Value Ep. 35 - Nik Bhatia | The transition to the Bitcoin Age
Sep 15, 2025
Nik Bhatia, author and researcher focused on Bitcoin and monetary history, discusses the evolution of monetary systems and Bitcoin's role as non-counterparty money. He explores how Bitcoin represents a new monetary epoch and the challenges institutions face in questioning traditional money. Bhatia analyzes the relationship between fixed income and Bitcoin, and the influence of inflation on market dynamics. He also addresses Bitcoin's value during economic crises and potential parallels to past speculative cycles, offering insights on its adoption curve.
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Three Roles In One Protocol
- Bitcoin functions simultaneously as an accounting system, transaction network, and store of value.
- Adoption can occur in parallel across accounting, transactions, and savings rather than sequentially.
The Dollar As A Global Banking System
- The US dollar operates like a global banking system that's hard to observe from inside.
- Bitcoiners step outside that system to view money as separate from the global banking dollar.
From Layered Gold To Layered Credit
- Money evolved from layered gold (physical metal → promises) to layered bank credit after 1971.
- Today's currency is layered credit where US government debt acts as the pristine collateral within a banking-controlled system.
