27 days ago
With every day comes a new pronouncement from Michael Saylor, the charlatan behind the Strategy (US:MSTR) ponzi which indicates that he is going completely mad. The problem is that he has been the biggest cheerleader for crypto and his heavily indebted firm owns 3% of the world’s bitcoin. When it explodes not only will it be a forced sellers but a stack of over-leveraged believers will also enjoy a red pill moment and sell too.
96 days ago
For various reasons I found myself on a video call with Andrew Webley today. We had scheduled a 30 minute chat but we talked for 75 minutes. I am a miserable man with few friends but I admit that I like Webley and would happily go for a non alcoholic drink with him. He has made errors but I can accept that they were not deliberate and he is thus definitively NOT a grifter. So does that make shares in The Smarter Web Company (SWC) a buy? No. And I explain why. But at 44.5p are they super overvalued? They might be if bitcoin crashes or if Strategy (US: MSTR) blows up and I don't think Webley would disagree. But he, like many others reckon neither will happen despite the obvious red flag of the corporate jet Strategy is buying for Michael Saylor as you can see in a regulatory disclosure below. . I discuss all of this and bring you the good news that Webley will join me on stage at Sharestock 2026 on September 5. To get your tickets at 2025 prices you must book before December 31 HERE
97 days ago
I tried to convey the madness and ponzi nature of Strategy (US:MSTR) and how it could collapse the entire bitcoin in treasury bubble yesterday in bearcast. Quite rightly, reader and olive harvester J reckons that Matt Levine explains this insanity fair more clearly
98 days ago
I discuss Amazing AI (AAI), Microstrategy (US:MSTR), Smarter Web (SWC), Hamak Strategy (HAMA), Bluebird Mining Ventures (BMV) and Union Jack Oil (TOAST).
112 days ago
When every bubble bursts someone is painted as the arch villain. Bitcoin, $125,000 just a few weeks ago, is today testing $90,000 and Michael Saylor, the founder of the world’s largest bitcoin in treasury company, MicroStrategy ($MSTR) is ranting that we should all buy bitcoin. Peter Schiff says Strategy is a fraud and will go to $0.
226 days ago
Strategy (MSTR) is the big daddy of bitcoin in treasury companies and its success is seen, by believers, as proof that The Smarter Web Company (SWC) can go only one way. But even Strategy trades at less than 2 times NAV whereas the Smarter Web company, at 217.5p, trades at more than five times fully diluted NAV. So, if one accepts that Strategy is cheap, which I am not sure I do, then that does not make Smarter Web anything but expensive. But what if Strategy shares were to puke? Could that happen?
265 days ago
Bulls of Bitcoin tell you that with countries debasing their Fiat currencies by running continually running budget deficits that Bitcoin will appreciate in value because unlike Fiat currencies, Bitcoin it has a finite supply. And thus you must own bitcoin in treasury stocks but I just flag up a couple more inconvenient truths
465 days ago
Following on from my earlier piece on Microstrategy (Nasdaq:MSTR) and bitcoin I look at its valuation and also that of Golden Prospect Precious Metals (GPM). You may say its apples and pears but it tells you something does it not?
465 days ago
If you think that Bitcoin is overpriced at just under $100,000 then a possible stock to short is MicroStrategy (Nasdaq:MSTR) at $422 which describes itself thus: “MicroStrategy® is the world’s first and largest Bitcoin Treasury Company.” You would be following the strategy of a well-respected short seller Citron Research which initiated a short a few days ago. Its thesis was that MicroStrategy’s market capitalisation was far to far ahead of the value of its bitcoin portfolio.
