In this episode, Nik examines the powerful forces pushing Bitcoin toward new highs, revealing how government spending sets off new money creation that flows directly into assets. Starting with a breakdown of Bitcoin’s recent breakout and technical setup, he then explores the global backdrop, including China’s $1 trillion stimulus and shifts in U.S. fiscal policy. Using a balance sheet approach, Nik illustrates how Treasury issuance, bank purchases, and government payments lead to new deposits and net worth expansion — a process fueling assets without Fed involvement. This analysis reveals why Bitcoin, as a finite asset, stands to benefit in a world of accelerating government-driven liquidity.

The Bitcoin Layer is a bitcoin and global macroeconomic research firm.

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Nik Bhatia's Twitter: https://twitter.com/timevalueofbtc
Creative Director Matthew Ball's Twitter: https://twitter.com/matthewrball

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