Episode 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 Years03:00 — Inside The Bitcoin Layer and the Layered Money Thesis05:30 — From Repo Trader to Bitcoin Researcher08:30 — Why BPI Was Asked to Tackle Stablecoins as Statecraft11:30 — Front-Running China's Digital Yuan With U.S. Stablecoins14:20 — The Eurodollar System: Who Actually Profits Offshore17:00 — From LIBOR to SOFR — and Why the Eurodollar Is Next22:00 — Layered Money, T-Bills, and the Hidden Bitcoin Accelerant27:15 — What Bessent Really Means by "Strong Dollar"30:00 — The Strategic Bitcoin Reserve Reframed: A Wallet for Tribute35:40 — Bitcoin in Global Settlement and the Multipolar World37:30 — Where to Find Nik Bhatia and TBL Pulse#Bitcoin #BitcoinPolicy #BitcoinPolicyHour #NikBhatia #BitcoinLayer #LayeredMoney #Stablecoins #GENIUSAct #Eurodollar #DigitalYuan #StrategicBitcoinReserve #SBR #Treasury #Tbills #Repo #FederalReserve #StrongDollar #DXY #Bessent #Lummis #BitcoinAct #DollarHegemony #BalanceOfPayments #DigitalGold #PetroDollar #LIBOR #SOFR #Tether #Macro #BitcoinPolicyInstitute #BPI #BitcoinMagazine #BitcoinConference #BitcoinDC #MonetaryPolicy #DigitalDollarDISCLAIMER: The views and opinions expressed in this show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. This content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing contained in this show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions.
