About Nik Bhatia
The Bitcoin Layer is a bitcoin and global macro research firm. Consider it picking up where Nik’s book Layered Money left off—how is bitcoin changing the monetary system in front of our eyes, where is it on that path, and is it heading to a price beyond $1 million?
Our TBL Liquidity Framework
Our value proposition is trying to answer one simple question: how much of risk asset movements can be explained by liquidity in today’s financial system?
Our entire research framework revolves around answering that question, and over the past year, we have developed some key metrics, with our main one being:
Our TBL Liquidity Index: Subscribers get 3-4 updates per week that allow them to understand our model, and why it follows risk assets so closely (look at TBL Liquidity next to the S&P 500 and junk bonds over this past year).
What does TBL Liquidity have to do with bitcoin?
As bitcoin adoption grows, idiosyncratic risks decrease, and the asset’s price shows a tendency to follow more macro-induced changes, such as liquidity shifts.