Nik Bhatia is a financial researcher and Adjunct Professor of Finance and Business Economics at the University of Southern California Marshall School of Business, where he teaches Applied Finance in Fixed Income Securities. He is author of the #1 bestseller Layered Money: From Gold and Dollars to Bitcoin and Central Bank Digital Currencies. He currently writes The Bitcoin Layer, a research publication on Substack. Previously, Nik worked on the US Treasuries trading desk for a large institutional asset manager and has extensive trading experience in money markets and interest rate futures. He has a BA in Social Sciences from University of Southern California, a Master in Finance from IE Business School in Madrid, Spain, and is both a CFA and CMT charterholder. Nik lives in Los Angeles with his wife and daughter. Learn more at www.LayeredMoney.com. https://thebitcoinlayer.substack.com

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00:00 Okcoin promo 01:05 iTrustCapital promo 01:43 Macroenvironment analysis 04:45 What does Fed pause mean for assets, equities, Bitcoin? 07:34 10-2 year Treasury yield curve deeply inverted 10:59 Unemployment numbers 15:43 Fed rate hike predictions 19:48 Cutting cycle "The risks are balanced" 23:37 Likelihood of a liquidity crisis 29:00 Bitcoin Amsterdam and Bitcoin 2023 promo 30:03 Fold app promo 30:45 Government owning mortgage-backed securities 34:05 What does a sustained Fed pause mean for BTC? 39:06 Coinbase and Blackrock partnership 44:34 Bitcoin vs. Ethereum BTC vs. ETH proof of stake 50:10 The Bitcoin Layer research and education platform