194: Bitcoin Demystified (Part 1): Why 1 in 7 Americans Own Bitcoin

Did you know that 1 in 7 Americans now own Bitcoin? If you've been curious about cryptocurrency but don't know where to start, this episode is for you. Host Kirsten Howe sits down with Jirayr Kembikian, CFP® and Managing Director of Citrine Capital, to demystify Bitcoin and explain why it's fundamentally different from every other cryptocurrency on the market.

 

In this conversation, Jirayr introduces his "three buckets" framework for understanding the crypto landscape and explains how Bitcoin's fixed 21 million supply cap, national debt concerns, and unlimited money printing are driving unprecedented adoption. He reveals the shocking truth that almost a third of all dollars ever created were printed in just the last five years, and why Bitcoin's proof-of-work system makes it the most secure computer network in the world. Whether you're a complete beginner or have been crypto-curious for years, this episode provides a grounded, practical perspective on what Bitcoin is, why it matters, and what it could mean for your financial future. This is Part 1 of our cryptocurrency series—stay tuned for upcoming episodes on how to own, acquire, and store Bitcoin safely.

 

Time-stamped Show Notes:

0:00 Introduction

1:43 Why Bitcoin exploded over the last decade, built on decades of failed projects before launching in 2009.

2:45 Why everyone gets Bitcoin wrong at first—it requires understanding math, cryptography, engineering, and energy simultaneously.

3:43 The "three buckets" framework: Bitcoin (hardest money with 21 million cap), stablecoins (dollar-pegged), and all other crypto (centralized authorities that can negate transactions).

6:03 What backs Bitcoin: How proof-of-work energy consumption secures the network and makes it the most secure computer network in the world.

7:34 Other cryptocurrencies' harsh reality: Constant hacks, downtime, and mysterious blockchain reversals.

7:46 The economic pressure driving Bitcoin adoption: National debt over $30 trillion makes printing money mathematically inevitable.

10:21 The jaw-dropping stat: Almost a third of all dollars ever created were printed in the last five years.

11:03 Basic economics: Growing demand meets Bitcoin's fixed supply that cannot increase.

11:31 Preview: How to own, acquire, and store Bitcoin—covered in upcoming episodes.

11:51 Bitcoin's transparent 100-year distribution schedule fixed in code versus unpredictable dollar printing.

12:18 The halving cycle: Every four years, new Bitcoin supply gets cut in half, creating scarcity by design.

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