THE FINANCIAL COMMUTE
Hosted by Wealth Advisor Chris Galeski, THE FINANCIAL COMMUTE is a weekly podcast that gives the rundown on what's going on in the current market, how it affects you, and what you can do about it – all designed to fit into your commute. Each week Chris welcomes an expert guest, including Morton Wealth advisors, fund managers, and investment analysts, to break down complex financial topics. Our goal for this podcast is to provide you with the tools to help you navigate this challenging environment, leading to a path of more confident investing.
THE FINANCIAL COMMUTE
Beyond the Hype: The Real Value of Bitcoin According to Nik Bhatia
On this week's episode of THE FINANCIAL COMMUTE, host Chris Galeski invites Nik Bhatia, professor at USC, author of Layered Money and host of The Bitcoin Layer podcast to discuss Bitcoin's evolution and role in society and finance.
Here are some key takeaways from their conversation:
- Bitcoin was created as a response to the continuous expansion of the credit system and as a new form of decentralized electronic cash.
- Bitcoin's finite supply (21 million coins) makes it a unique store of value akin to digital gold.
- Bitcoin operates on a decentralized protocol with cryptographic security, ensuring transparency and removing the need for intermediaries like banks.
- Bitcoin has gained legitimacy through institutional adoption, ETFs, and regulatory clarity, reducing its risk profile as an asset class.
- While technological advancements like quantum computing could challenge Bitcoin's security, advancements in quantum encryption are expected to mitigate these risks.
- Self-custody provides a direct way to interact with Bitcoin's blockchain, but ETFs and other custody solutions offer a more accessible entry point for many investors.
- Bitcoin is now 16 years old, growing in legitimacy, and increasingly recognized as a new asset class. Curiosity and open-mindedness are essential for understanding its potential role in the future of finance.