Uploaded August 2026 | Updated September 2026, 2 weeks ago
🚨 CHECK OUT TBL PULSE: research.thebitcoinlayer.com
In this episode, Demian welcomes back Joe Consorti for a conversation on the Clarity Act and what it means for bitcoin. Joe explains the bill's three buckets, how it would separate commodities from securities and put bitcoin under the CFTC, and why he sees that as a win for investor protections rather than price. He covers why the bill has stalled in the Senate over ethics concerns, why he thinks that fight is now ideological, and why the stablecoin rails it would create make it bullish long term. Joe also covers Russia legalizing bitcoin for cross-border settlement, the jobs revisions that boxed in the Fed, and why he thinks bitcoin's low is likely in.
Get Nik's weekly bitcoin and macro research: thebitcoinlayer.com/subscribe
The Bitcoin Layer is proud to be sponsored by SOUND HSA. A Health Savings Account is the most tax-advantaged account in the US tax code: contributions are tax-deductible, growth is tax-free, and withdrawals for qualified healthcare expenses are tax-free too. But most people leave their HSA sitting in cash, losing purchasing power year after year. SOUND HSA lets you hold real bitcoin inside your HSA instead. Not an ETF, not a paper claim, but real bitcoin secured in multi-institutional, multi-signature cold storage. Use code TBL to waive the fifty-dollar setup fee. Transfer an existing HSA or open a new one today: soundhsa.com
Timestamps:
00:00 Why the Clarity Act matters, and why it doesn't
02:51 The stablecoin yield fight and the banks
06:27 Ethics concerns and Trump's crypto tokens
08:41 Why Joe says the fight is now ideological
11:21 How the White House responded, and the politics lens
14:17 Where the bill stands and the September vote
16:24 Why stablecoin rails make it bullish long term
18:41 The debt spiral and the zero lower bound
20:48 Russia legalizes bitcoin for cross-border settlement
22:37 bitcoin as money for enemies
24:33 Revaluing the gold reserves
25:29 The jobs revisions that boxed in the Fed
27:23 Why the war has to end before the midterms
29:11 Why Joe thinks the low is in
31:07 Downside targets and the DCA zone
33:07 Where to find Joe
📊 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: research.thebitcoinlayer.com
In this episode, Demian welcomes back Joe Consorti for a conversation on the Clarity Act and what it means for bitcoin. Joe explains the bill's three buckets, how it would separate commodities from securities and put bitcoin under the CFTC, and why he sees that as a win for investor protections rather than price. He covers why the bill has stalled in the Senate over ethics concerns, why he thinks that fight is now ideological, and why the stablecoin rails it would create make it bullish long term. Joe also covers Russia legalizing bitcoin for cross-border settlement, the jobs revisions that boxed in the Fed, and why he thinks bitcoin's low is likely in.
Get Nik's weekly bitcoin and macro research: thebitcoinlayer.com/subscribe
The Bitcoin Layer is proud to be sponsored by SOUND HSA. A Health Savings Account is the most tax-advantaged account in the US tax code: contributions are tax-deductible, growth is tax-free, and withdrawals for qualified healthcare expenses are tax-free too. But most people leave their HSA sitting in cash, losing purchasing power year after year. SOUND HSA lets you hold real bitcoin inside your HSA instead. Not an ETF, not a paper claim, but real bitcoin secured in multi-institutional, multi-signature cold storage. Use code TBL to waive the fifty-dollar setup fee. Transfer an existing HSA or open a new one today: soundhsa.com
Timestamps:
00:00 Why the Clarity Act matters, and why it doesn't
02:51 The stablecoin yield fight and the banks
06:27 Ethics concerns and Trump's crypto tokens
08:41 Why Joe says the fight is now ideological
11:21 How the White House responded, and the politics lens
14:17 Where the bill stands and the September vote
16:24 Why stablecoin rails make it bullish long term
18:41 The debt spiral and the zero lower bound
20:48 Russia legalizes bitcoin for cross-border settlement
22:37 bitcoin as money for enemies
24:33 Revaluing the gold reserves
25:29 The jobs revisions that boxed in the Fed
27:23 Why the war has to end before the midterms
29:11 Why Joe thinks the low is in
31:07 Downside targets and the DCA zone
33:07 Where to find Joe
📊 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
