BREAKDOWN: Preston Pysh on Why We’ve Entered a Fundamentally New Era of Bitcoin Accumulation
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 13 August 2020
⏱️ 103 minutes
🧾️ Download transcript
Summary
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.
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.
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
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Transcript
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| 0:49.7 | It's all a matter of your perspective. |
| 0:51.4 | You can look at this and say, hey, this is going to be an extremely concerning and terrible, devastating. |
| 0:58.5 | Dude, flip that on its head. |
| 0:59.9 | Start telling yourself, you're going to crush this and start doing whatever you've got to do in order to get as smart as you can and leverage the opportunity that's being presented to you. |
| 1:08.1 | At the start of the book, the Intelligent Investor, Warren Buffett |
| 1:12.1 | writes the prolude to the book and he says, your ability to amass a lot of wealth, and I'm |
| 1:18.3 | totally paraphrasing this, but it comes down to how many market cycles you get exposed to. |
| 1:22.9 | And I think that when you look at this, and this might be ignorant of my history, but I think |
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