Lawrence Lepard

Lawrence Lepard is an investment manager and Austrian-School economist. In 2006 he founded Equity Management Associates, an investment firm backing growing private and public companies around the world. He is a well-known advocate for sound money and Bitcoin.

He spent twenty-five years in venture capital before that, at Summit Partners and Geocapital Partners, and turned to monetary questions after concluding that the returns he was chasing owed more to money printing than to productivity. Equity Management Associates now concentrates on gold and silver miners and on Bitcoin, which he treats as insurance against monetary debasement rather than as a speculation.

In 2025 he published The Big Print: What Happened to America and How Sound Money Will Fix It, which sets out how he thinks the dollar system reached its present state and what a return to sound money would require. He is a frequent guest on finance and Bitcoin podcasts, where his argument is that the debt cannot be repaid in real terms and that inflating it away is the only politically available option, which is why he holds assets that cannot be created by decree.