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Preston Pysh on Why We’ve Entered a Fundamentally New Era of Bitcoin Accumulation
The prominent podcaster and bitcoin advocate joins The Breakdown to explain why we’re seeing a phase shift in the corporate and institutional relationship with BTC.
Updated Sep 14, 2021, 9:43 a.m. Published Aug 13, 2020, 7:00 p.m.
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The prominent podcaster and bitcoin advocate joins The Breakdown to explain why we’re seeing a phase shift in the corporate and institutional relationship with BTC.
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This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.
The Investor’s Podcast Network cofounder Preston Pysh last recorded with The Breakdown on Black Thursday in March. As NLW and Pysh discussed the potential of future currency crises, bitcoin smashed all the way below $4,000.
In the five months since, bitcoin has risen 200%. It has attracted the devotion of leading hedge funders such as Paul Tudor Jones II and more recently has become the reserve asset of choice of at least one publicly listed company.
See also: Hedgeye CEO Keith McCullough on Stagflation, Bitcoin and the Devalued Dollar
Preston and NLW discuss:
- The significance of halving coinciding with central bank printing
- The inevitability of negative interest rates
- Why it’s the dollar, not the stock market, that is inversely correlated with the price of bitcoin
- Why Preston believes in the stock-to-flow model
- Who pays the price for inevitable currency debasement
- Why we’re dramatically underestimating the precedent set by MicroStrategy’s $250,000,000 cash-for-bitcoin reserve switch
- Why MicroStrategy will be worth 10 times what it is today a year from now
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.
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Bitcoin claws back to $70,000 on cooling inflation after $8.7 billion wipeout
Despite the price recovery, the Crypto Fear & Greed Index remains in “extreme fear,” indicating underlying market anxiety.
Cosa sapere:
- Bitcoin’s price recovered above $70,000 after a drop, driven by cooler-than-expected U.S. inflation data and increased risk appetite.
- Despite the price recovery, the Crypto Fear & Greed Index remains in “extreme fear,” indicating underlying market anxiety.
- $8.7 billion in bitcoin losses were realized in the last week, potentially signaling a capitulation event and a shift of supply to stronger hands.
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