Preston Pysh is a West Point graduate and U.S. Army veteran turned investor, author, and podcaster who co-founded The Investor’s Podcast Network and, through his We Study Billionaires and Bitcoin Fundamentals podcasts, emerged as one of the most rigorous macro-oriented Bitcoin educators, applying frameworks from Federal Reserve balance sheet expansion, yield curve control, and fiat debasement to argue that Bitcoin’s 21 million coin hard cap makes it the optimal savings technology for an era of structurally expanding government debt.
Background
Preston Pysh attended the United States Military Academy at West Point, earning a degree in Systems Engineering. He served as an officer in the U.S. Army before transitioning out of military service. He subsequently pursued an investing career and became a prolific writer and educator on the Warren Buffett/value investing framework through his early books and podcast work.
The Investor’s Podcast Network
Pysh co-founded The Investor’s Podcast Network with Stig Brodersen. The flagship show, We Study Billionaires (WSB), began in 2014 and grew into one of the largest investing podcasts globally, focusing on studying the investment philosophies and decisions of the world’s most successful investors (Buffett, Munger, Dalio, Lynch, etc.).
Pysh’s investing background was initially in traditional value investing and Buffett-style fundamental analysis.
Bitcoin Conversion
Pysh began deep research into Bitcoin around 2018–2019, coinciding with:
- His study of Ray Dalio’s “changing world order” thesis about debt cycles.
- Exposure to Saifedean Ammous’s “The Bitcoin Standard” (published 2018) and its Austrian monetary theory framework.
- His Army/systems engineering background leading him to appreciate Bitcoin’s mathematical scarcity guarantees as “harder” than anything prior monetary systems offered.
He became publicly and outspokenly Bitcoin-focused by approximately 2019-2020.
Bitcoin Fundamentals Podcast
Pysh created a dedicated sister podcast under the Investor’s Podcast Network umbrella — Bitcoin Fundamentals — focused entirely on Bitcoin analysis, technology, and macro investment thesis. Guests have included:
- Michael Saylor
- Parker Lewis
- Jeff Booth
- Lyn Alden
- Greg Foss
- Saifedean Ammous
- Many Ethereum and broader macro figures for debate
Key Analytical Frameworks
Pysh’s Bitcoin thesis is particularly grounded in:
Federal Reserve and Monetary Debasement
- Yield curve control (YCC): Pysh has argued that the U.S. and global central banks are structurally forced toward yield curve control and monetary expansion to manage debt burdens that have exceeded levels where organic economic growth can address them.
- Real yield as negative signal: When real yields (nominal yield minus inflation) go deeply negative, the opportunity cost of holding Bitcoin (no yield, but fixed supply) falls to zero or negative relative to holding bonds.
- Debt-to-GDP ratio: Pysh, following Jeff Booth’s thesis in “The Price of Tomorrow,” argues that technological deflation and monetary inflation are in structural tension, and that Bitcoin is the monetary settlement network that can survive this transition.
Bitcoin as Savings Technology
Pysh distinguishes between Bitcoin as a medium of exchange (which he considers a secondary feature at this stage) and Bitcoin as a savings technology — a unit to hold long-duration value in without dilution risk. He draws analogies to holding equity in a company with a fixed number of shares that cannot be diluted.
Key Dates
- 2014 — Co-founds The Investor’s Podcast Network and We Study Billionaires podcast.
- 2019 — Publicly converts to Bitcoin-focused macro thesis.
- 2020 — Launches Bitcoin Fundamentals podcast; active participant in Bitcoin macro discourse alongside Michael Saylor’s MicroStrategy announcement.
- 2021 — Among most-cited voices during bull cycle for macro Bitcoin thesis.
- 2022 — Continues Bitcoin advocacy through bear market, defending thesis during 70%+ price drawdown.
Common Misconceptions
- “Preston Pysh is a trader focused on short-term Bitcoin price.” — Pysh explicitly and consistently argues against trading Bitcoin for short-term profit and frames it as a 4-year minimum holding asset. He focuses on long-duration macro thesis, not cycles.
- “Pysh abandoned value investing.” — He argues that Bitcoin is a value investment by Buffett’s framework — buying an asset at a price below its intrinsic value — when that intrinsic value is understood as the monetary premium of the only mathematically fixed-supply monetary network.
Last updated: 2026-04