Investor and venture capitalist Preston Pysh has discovered the world’s ultimate solution to all financial chaos, and no, it’s not a magic wand or a particularly clever accounting trick. It’s Bitcoin. Yes, that shiny thing that keeps people up at night checking their wallets like it’s the most important thing in the world (it might be, but we can’t be sure).
In a recent interview with Natalie Brunell on YouTube (where, I imagine, he wore a very serious face while trying not to burst into a giggle), Pysh explained how the global financial system is “fundamentally flawed” because, and here’s the kicker, it allows governments to print money willy-nilly without anything to back it up. He called this a “global peg” problem. And apparently, that’s where Bitcoin steps in like a knight in shining armor.
According to Pysh, the absence of a reliable peg is the root cause of the chaos in modern economies. Who knew? All this time we’ve been blaming bad decisions, poor leadership, and a general lack of common sense, but it turns out it’s just because there’s no global peg. Bitcoin, apparently, is the answer. And who can argue with that? Bitcoin doesn’t get tired, doesn’t print more of itself when it’s feeling generous, and most importantly, it doesn’t need to consult with the IMF every time it needs to fix something.
“The problem in the world was there was no global peg. No peg, no fun. That’s why fiat currency just keeps growing out of control,” he says. “So they just print more money, and boom, the economy goes boom. Because nobody can trust it.” Trust is, after all, overrated—unless you’re talking about Bitcoin, in which case, it’s the absolute foundation of financial sanity.
But wait, there’s more! Pysh also argues that Bitcoin’s primary role is as a store of value. That’s right, folks: it’s not just for buying pizza anymore. Its secondary role is acting as a medium of exchange, which sounds a lot more like the dream we all had in 2013 when we thought Bitcoin would buy us a cup of coffee (if it hadn’t been for the enormous fees, of course).
“How in the world are all these governments going to trust each other when they’re all trying to out-debase their own currencies?” he muses. And really, who hasn’t asked that question while staring at their bank statement? “There was no solution, and people were all like, ‘Oh, the IMF will fix it.’ I thought, no way. That’s just asking for more trust. What about Bitcoin, though? Now we’re talking.”
Pysh concludes, quite sensibly, that Bitcoin has to first function as a store of value before it can take on the more mundane task of everyday transactions. Which means it’ll have to continue appreciating in value, because who’s going to trade a thing that isn’t worth more tomorrow than it is today? Not me, that’s for sure.
As of now, Bitcoin is trading for a cool $95,956. I don’t know about you, but I feel a sudden urge to check my wallet…
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2025-05-04 10:27