Oddbean

I agree with you. But the central banks buying of gold is a real thing. I also think he agrees with us deep down. But his self-assigned role is to appeal to gold bugs who are even more stuck in their ways than him. On balance, he's easily a positive influence on the movement. I know he's helped me a lot

My view - both of these guys have some interesting macro stuff to say, Luke Gromen especially, but incentives matter. Both of them essentially get paid for not being a Bitcoin maxi, like all investment professionals. Why? There’s not much of a career in it - and never will be - as the strategy never changes, until everyone starts to switch from saving in Bitcoin to investing again in equities that can return a positive outcome vs Bitcoin. Until that point, Saylor got it right - there’s no such thing as diversification when the solution you’re after is the answer to an engineering problem.