Submitted by QTR’s Fringe Finance
Today, with his permission, I’m happy to offer up the latest thoughts from my friend Anton Wahlman, whose takes I don’t always agree with — but are always worth considering.
Anton is a brilliant analyst and has, many times in the past, help me see “blind spots” in analysis I’ve performed, whether it be of politics, macro or individual companies.
His Substack, Heresy And Liberty, is a must-subscribe. While his opinions sometimes seem far off the beaten path, his accuracy often surprises me — and his “fringe” analysis is exactly why I love supporting him — to think and consider angles we normally wouldn’t.
Anton is a former sell side analyst with UBS, Needham and ThinkEquity and now spends his days writing mostly about automobiles and other technology products.
Last night, he sent me his thoughts on my recent 2 hour interview with Michael Saylor over the weekend, which I will now pass on to you for your thought consideration.
My Counter-Argument to Michael Saylor Regarding Bitcoin
Chris Irons of Quoth The Raven hosted a supremely intelligent and pleasant interview with Microstrategy CEO Michael Saylor. The central subject was, of course, why Bitcoin is the solution to all sorts of financial problems in society.
Here is the original QTR podcast interview with Saylor: Michael Saylor Exclusive: Bitcoin’s Biggest Risk, GameStop, ETFs, Inflation
Michael Saylor himself was late to the Bitcoin party, as he says. He had been looking at it since at least 2017 but changed his mind in 2020 to become hugely bullish, and started levering up the Microstrategy entity to essentially become a levered bet on Bitcoin.
You got to hear Saylor’s descriptions of hurricanes and organic living
Saylor has an outstanding perspective on the ills of society. In the QTR interview, you should pay particular attention to his description of the absolute madness that takes place in today’s media-driven society when there is a hurricane approaching a place such as Miami, and people evacuate unnecessarily to some other place in Florida — where the hurricane, having changed direction, ends up hitting in reality. I will be re-listening to this description for years to come.
You will also want to listen to Saylor describing other modern societal pathologies such as sitting still and avoiding risk, such as germs. He didn’t use the words of George Carlin from 20 or so years ago, but he might as well have:
Seeing as I view myself as the most extreme anti-vaxer who has ever existed on this planet, Saylor’s views on these kinds or problems and social phenomena are music to my ears. He’s clearly a Libertarian anti-communist anti-vaxer. It doesn’t get better than that, in my opinion.
The solution: Here is where I don’t get it
Saylor has levered the company he runs to the hilt, with a singular bet on Bitcoin. As a result, this is what he is selling: Bitcoin is going to the moon, and you are well-advised to get on this Bitcoin train pronto.
The problem is that…(READ THIS WHOLE PIECE FREE HERE).
