Uploaded May 2026 | Updated September 2026, 2 weeks ago
🚨 CHECK OUT TBL PULSE FOR FREE: research.thebitcoinlayer.com
In this episode, Nik welcomes back Joe Consorti, a TBL veteran who helped build The Bitcoin Layer in its early days, for a conversation on bitcoin, AI, and the next phase of markets. Joe explains why bitcoin has lagged equities, why the four-year cycle may be breaking, and why AI could become one of the biggest long-term bull cases for bitcoin. He also breaks down the volatile macro setup ahead, from war-driven oil inflation and higher rates to the AI capex boom, asset price inflation, and why bitcoin may be uniquely positioned as an asset that cannot be disrupted in the AI era.
Get Nik's weekly bitcoin and macro research: thebitcoinlayer.com/subscribe
The Bitcoin Layer is proud to be sponsored by The Bitcoin Way. Most people know how to buy bitcoin, but few know how to truly secure it. The Bitcoin Way offers one-on-one, white glove self-custody training so you can take full control of your bitcoin wealth with zero counterparty risk. They never touch your bitcoin. From air-gapped hardware to inheritance planning to node running, they handle the full stack. They also offer personal cybersecurity services and Plan B residency in Panama for those seeking jurisdictional sovereignty. Book a free consultation today: thebitcoinway.com/tbl
Timestamps:
0:00 — Intro & Episode Preview
1:06 — 3-Month vs. 18-Month Macro Outlook: war, oil shock, inflation, recession risk, and why asset markets hit new highs regardless
7:30 — Inflation, Interest Rates & Equities at ATH: how high can rates go before it really hurts stocks? The AI CapEx boom and the IPO supercycle
15:27 — Why Old Models Are Breaking Down: equity risk premium, forward P/E, and why money printing has made traditional valuation metrics obsolete
24:08 — AI & The K-Shaped Economy: can the bottom half of the K actually benefit? Offshoring, productivity gains, and the deflationary/inflationary paradox of AI
28:53 — Bitcoin in the AI Era: why Bitcoin can't be disrupted by AI, where capital fleeing software stocks will go, and Bitcoin as the ultimate hedge against monetary debasement
33:27 — Is the Bitcoin 4-Year Cycle Dead? Passive flows, Strategy's accumulation, and why $60K may have been the bottom
38:37 — The Blasphemous Question: would Joe sell Bitcoin for day-one allocations in SpaceX, Anthropic & OpenAI IPOs?
📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm.
▶️ Subscribe and turn on notifications for TBL on YouTube.
🎙 Subscribe to The Bitcoin Layer on your favorite podcast platform.
🐦 Follow TBL on X: /thebitcoinlayer
Nik Bhatia's Twitter: /timevalueofbtc
Researcher Demian Schatt's Twitter: https://x.com/demianschatt
Lead Statistician Augustine Carrasco Twitter: https://x.com/AugustineCarrB
🚨 CHECK OUT TBL PULSE FOR FREE: research.thebitcoinlayer.com
In this episode, Nik welcomes back Joe Consorti, a TBL veteran who helped build The Bitcoin Layer in its early days, for a conversation on bitcoin, AI, and the next phase of markets. Joe explains why bitcoin has lagged equities, why the four-year cycle may be breaking, and why AI could become one of the biggest long-term bull cases for bitcoin. He also breaks down the volatile macro setup ahead, from war-driven oil inflation and higher rates to the AI capex boom, asset price inflation, and why bitcoin may be uniquely positioned as an asset that cannot be disrupted in the AI era.
Get Nik's weekly bitcoin and macro research: thebitcoinlayer.com/subscribe
The Bitcoin Layer is proud to be sponsored by The Bitcoin Way. Most people know how to buy bitcoin, but few know how to truly secure it. The Bitcoin Way offers one-on-one, white glove self-custody training so you can take full control of your bitcoin wealth with zero counterparty risk. They never touch your bitcoin. From air-gapped hardware to inheritance planning to node running, they handle the full stack. They also offer personal cybersecurity services and Plan B residency in Panama for those seeking jurisdictional sovereignty. Book a free consultation today: thebitcoinway.com/tbl
Timestamps:
0:00 — Intro & Episode Preview
1:06 — 3-Month vs. 18-Month Macro Outlook: war, oil shock, inflation, recession risk, and why asset markets hit new highs regardless
7:30 — Inflation, Interest Rates & Equities at ATH: how high can rates go before it really hurts stocks? The AI CapEx boom and the IPO supercycle
15:27 — Why Old Models Are Breaking Down: equity risk premium, forward P/E, and why money printing has made traditional valuation metrics obsolete
24:08 — AI & The K-Shaped Economy: can the bottom half of the K actually benefit? Offshoring, productivity gains, and the deflationary/inflationary paradox of AI
28:53 — Bitcoin in the AI Era: why Bitcoin can't be disrupted by AI, where capital fleeing software stocks will go, and Bitcoin as the ultimate hedge against monetary debasement
33:27 — Is the Bitcoin 4-Year Cycle Dead? Passive flows, Strategy's accumulation, and why $60K may have been the bottom
38:37 — The Blasphemous Question: would Joe sell Bitcoin for day-one allocations in SpaceX, Anthropic & OpenAI IPOs?
📊 The Bitcoin Layer is a bitcoin and global macroeconomic research firm.
▶️ Subscribe and turn on notifications for TBL on YouTube.
🎙 Subscribe to The Bitcoin Layer on your favorite podcast platform.
🐦 Follow TBL on X: /thebitcoinlayer
Nik Bhatia's Twitter: /timevalueofbtc
Researcher Demian Schatt's Twitter: https://x.com/demianschatt
Lead Statistician Augustine Carrasco Twitter: https://x.com/AugustineCarrB
