# $1M Bitcoin Is Already Locked In | Nik Bhatia Page: https://stenobird.com/podcast/the-bitcoin-way-podcast-6843432/1m-bitcoin-is-already-locked-in-nik-bhatia Text version: https://stenobird.com/podcast/the-bitcoin-way-podcast-6843432/1m-bitcoin-is-already-locked-in-nik-bhatia.md Podcast: [The Bitcoin Way Podcast](https://stenobird.com/podcast/the-bitcoin-way-podcast-6843432) Published: 2026-04-29T17:06:54+00:00 Episode link: https://fountain.fm/episode/2wxKQtRDRqfKIAKEIk9m Audio file: https://feeds.fountain.fm/lFHn4zNybhc78I4owxOv/items/AcilpVDzDWhRVbCO1XYx/files/VIDEO---DEFAULT---8bf4688b-2711-4101-8978-5429036a32e9.mp4/ORIGINAL.mp3 Processing state: not_requested JSON: https://stenobird.com/v1/public/podcasts/the-bitcoin-way-podcast-6843432/episodes/1m-bitcoin-is-already-locked-in-nik-bhatia Duration seconds: 3597 ## Resource 📞 Schedule a FREE call: https://www.thebitcoinway.com/contact?utm_campaign=podcast&utm_medium=social&utm_source=fountain 📖 Subscribe to our newsletter: https://www.thebitcoinway.com/resources/newsletter?utm_campaign=podcast&utm_medium=social&utm_source=fountain 🔑 Learn about our self-custody services: https://www.thebitcoinway.com/services/bitcoin-self-custody-training?utm_campaign=podcast&utm_medium=podcast&utm_source=fountain In episode #114 of The Bitcoin Way Podcast, Nik Bhatia (founder of The Bitcoin Layer, former US Treasuries trader) joins to break down why $1M Bitcoin isn’t a prediction — it’s already locked in. We cover the power law model that puts Bitcoin at $1,000,000 in the 2030s, MicroStrategy’s STRC vs US Treasuries, why bond yields could stay low past $40T debt, the 400x capital gap to BlackRock and Fidelity’s target allocations, how AI is forcing investors to recategorize Bitcoin, and why hyperbitcoinization isn’t coming. You can follow Nik on X at https://x.com/timevalueofbtc , subscribe to his Substack at https://thebitcoinlayer.substack.com , and visit his website at https://thebitcoinlayer.com . ⏱️ TIMESTAMPS: 00:00 - Guest Introduction 01:14 - The Role of STRC in Investment Strategies 06:13 - Understanding Risks in Bitcoin Investments 08:53 - The Landscape of U.S. Treasuries and Bitcoin 12:07 - Bitcoin as a Long-Term Investment 14:55 - The Power Law and Bitcoin's Growth 24:08 - Revisiting Bitcoin's Trajectory and Market Dynamics 29:54 - Bitcoin's Resilience and Market Behavior 31:25 - Macro Trends Impacting Bitcoin 34:46 - The Role of AI in Bitcoin's Future 46:59 - Energy Markets and Bitcoin Mining 52:01 - Hyper Bitcoinization vs. Gradual Adoption 🎧 LISTEN TO OUR POD & OTHER EPISODES: YouTube: https://www.youtube.com/@thebi… ## Actions - request_transcript: `POST https://stenobird.com/v1/public/podcasts/the-bitcoin-way-podcast-6843432/episodes/1m-bitcoin-is-already-locked-in-nik-bhatia/transcription-requests` — Idempotently request low-priority transcript generation for this episode. - read_markdown: `GET https://stenobird.com/podcast/the-bitcoin-way-podcast-6843432/1m-bitcoin-is-already-locked-in-nik-bhatia.md` — Read the agent-friendly Markdown representation of this episode resource. A page view does not enqueue transcription. Agents should invoke `request_transcript` explicitly when they need this episode processed. ## Transcript Full transcripts are not published on public pages unless there is a clear rights basis.