Nik Bhatia: Stablecoins Are a Trojan Horse for Bitcoin | Bitcoin Policy Hour Ep 35
Show Notes
The GENIUS Act passed last summer, and now Washington is asking the next question: what do we actually do with stablecoins? Nik Bhatia walks Ken Hagan through the layered money framework, the offshore Eurodollar plumbing, and why exporting U.S. dollar stablecoins is a direct response to the e-CNY rollout. Along the way, he explains why stablecoins are a hidden Bitcoin accelerant and why every dollar minted offshore eventually finds its way to layer-one money.
🔶 Connect with Ken Egan on X: https://x.com/Bayman11771
🔶 Connect with Nik Bhatia on X: https://x.com/timevalueofbtc
🔶 Learn more about the Bitcoin Policy Institute: https://www.btcpolicy.org/
Chapters:
01:20 — Nik Bhatia Returns to DC: What's Changed in 2 Years
03:00 — Inside The Bitcoin Layer and the Layered Money Thesis
05:30 — From Repo Trader to Bitcoin Researcher
08:30 — Why BPI Was Asked to Tackle Stablecoins as Statecraft
11:30 — Front-Running China's Digital Yuan With U.S. Stablecoins
14:20 — The Eurodollar System: Who Actually Profits Offshore
17:00 — From LIBOR to SOFR — and Why the Eurodollar Is Next
22:00 — Layered Money, T-Bills, and the Hidden Bitcoin Accelerant
27:15 — What Bessent Really Means by "Strong Dollar"
30:00 — The Strategic Bitcoin Reserve Reframed: A Wallet for Tribute
35:40 — Bitcoin in Global Settlement and the Multipolar World
37:30 — Where to Find Nik Bhatia and TBL Pulse
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