Bitcoin, A Fiduciary Duty with Nik Bhatia - WBD350
The Peter McCormack Show
Peter McCormack
4.7 • 2.8K Ratings
🗓️ 19 May 2021
⏱️ 69 minutes
🧾️ Download transcript
Summary
Location: El Salvador Date: Saturday May 8th Project: USC Marshall School of Business Role: Adjunct Professor of Finance
For a long time, asset managers in the traditional finance world have largely ignored bitcoin. Often using outdated and debunked theories as to why bitcoin is another tulip bubble that boils the oceans, kills polar bears and used by drug dealers and criminals.
Over the last year, this has begun to change, institutions have woken up to Bitcoin, and they are beginning to see it for what it is, the soundest money the world has ever seen and a tool for freedom. Nik Bhatia says that Bitcoin has changed monetary technology as we know it. It is now the fiduciary duty for asset managers to consider bitcoin, not only for the economic benefit but also for societal change.
In this interview, I talk by Author and Professor of Finance Nik Bhatia. We discuss his recent article 'Asset Managers, Owning Bitcoin Is Now Your Fiduciary Duty', currency debasement and how Bitcoin is the new monetary reality.
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Transcript
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| 0:00.0 | If you are ignoring Bitcoin now as a growth manager, you are ignoring that an alternative monetary reality has come into existence on this planet. |
| 0:15.0 | Hello there from Guatemala. |
| 0:18.0 | I have come over here from El Salvador to see what's going on with the Bitcoin scene. |
| 0:22.0 | I met some Guadalamal and people over in El Salvador and they invited me over. |
| 0:26.0 | So I've taken the trip. It's been a long day, but it's great to come over here and see what's happening. |
| 0:31.0 | Whoa, what a crazy week. Never a dull moment in Bitcoin. Thank you to everyone who sent |
| 0:36.7 | me great feedback following my thread addressing some of Enon Musk's criticisms of |
| 0:41.0 | Bitcoin. I didn't really think it through too much. |
| 0:44.0 | I didn't expect him to read it, but I wrote it anyway. |
| 0:46.0 | I was just a bit annoyed at the criticism of Bitcoin |
| 0:50.0 | and the promotion of Doge, especially seeing out in places like this to very hard work people |
| 0:54.2 | are putting into creating a Bitcoin ecosystem and using what is the best and hardest money to try |
| 0:59.7 | and change people's lives. |
| 1:00.7 | So it's a bit frustrating, it's now become a crazy week mainly |
| 1:03.8 | positive feedback I've had a few hundred emails and thousands of DMs I can't |
| 1:08.1 | even get through the DMs I'll try and do my best over time I do want to say thank |
| 1:11.8 | you to the people who have been positive. A few |
| 1:13.8 | death threats and a few people telling me to go kill myself, so obviously they disagree, |
| 1:18.3 | which is fine. We can always debate these points. Anyway, how are you all? Welcome to the 350th episode of the |
| 1:26.0 | What Bitcoin did podcast which is brought to you by Gemini, the only place I use |
| 1:29.3 | for buying Bitcoin. I'm your host Peter McCormack and today I've got another interview with Nick Bartier |
| 1:34.0 | but before that I do have a message from my show sponsors okay first up today is Sports Bet |
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