Bitcoin for Millennials How the Financial System is Designed to Keep You Poor | Nik Bhatia | BFM127
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Feb 17, 2025 Nik Bhatia, founder of The Bitcoin Layer and adjunct professor at USC, discusses the flaws of the financial system designed to keep individuals poor. He highlights the vital need for financial literacy, especially among young adults, and the misconceptions that hinder better investment decisions. Bhatia explores Bitcoin's role as a transformative force, contrasting it with traditional credit expansion and the ongoing challenges of inflation. He also emphasizes the importance of secure custody for Bitcoin and imagines a future where financial systems evolve with a deeper understanding of economics.
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Bitcoin as a Savings Technology
- The current financial system incentivizes spending and discourages saving due to constant price increases.
- Bitcoin offers an alternative where holding money can outpace inflation, eliminating the need for risky investments.
Educational Gaps in Finance
- Young people, even business students, often lack a deep understanding of how the financial and credit systems work.
- Traditional economics education often overlooks key concepts like credit creation and inflationary policies.
Real-World Finance Education
- Nik Bhatia's finance courses incorporate his experience as a treasury trader, providing a practical perspective.
- He uses the analogy of an open-faced watch to illustrate the complexity of the global economy.
