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Udi Critiques Michael Saylor w/ Udi Wertheimer
Udi Wertheimer, Founder of Taproot Wizards joins us to talk about the shifting narratives of Bitcoin, the structural flaws of layer-2 scaling solutions, and how stablecoins enable Hyperliquid and Polymarket. He critiques Michael Saylor’s aggressive financial engineering tactics, explaining why MicroStrategy stopping its Bitcoin buying spree is a far greater systemic risk to the market than Saylor actually selling his bags.
Subscribe to the newsletter! https://newsletter.blockspacemedia.com
Notes:
* Udi missed his $400k 2025 BTC forecast.
* Saylor's treasury is worth $55 billion.
* Saylor not buying for one quarter poses major risk.
* Treasury value could drop to $20 billion.
* MSTR holds a $2 billion cash reserve limit.
Timestamps:
00:00 Start
00:10 "I was wrong" - Udi
03:02 Layer 2
04:08 Recent Bitcoin history
07:56 On-chain activity will be fringe behavior
13:10 True believers & this cycle
17:37 narrative changes
21:02 Stablecoins
26:00 Agentic payments
27:26 Stablecoins & prediction markets
36:32 STRC selling BTC
43:22 Saylor thought experiment
47:05 Saylor BTC supply overhang
50:05 Saylor "folding"
57:48 10% of Gold supply
1:00:14 Is ANYTHING bullish now?
1:04:14 AI vibe coding
The Gwart Show is sponsored by Ellipsis Labs. Ellipsis Labs builds the
most efficient on-chain markets. Their orderbook and Prop AMM products
have delivered price improvement to hundreds of billions of dollars in
retail volume. Now, they are bringing their expertise to build Phoenix,
the best on-chain perpetuals platform.
Ellipsis Labs is hiring New York-based engineers. If you're an engineer
looking to work with a proven team in making DeFi better, go to
ellipsislabs.xyz/careers
Learn more about your ad choices. Visit megaphone.fm/adchoices
View all episodes
By Blockspace Media
4.8
1212 ratings
Udi Wertheimer, Founder of Taproot Wizards joins us to talk about the shifting narratives of Bitcoin, the structural flaws of layer-2 scaling solutions, and how stablecoins enable Hyperliquid and Polymarket. He critiques Michael Saylor’s aggressive financial engineering tactics, explaining why MicroStrategy stopping its Bitcoin buying spree is a far greater systemic risk to the market than Saylor actually selling his bags.
Subscribe to the newsletter! https://newsletter.blockspacemedia.com
Notes:
* Udi missed his $400k 2025 BTC forecast.
* Saylor's treasury is worth $55 billion.
* Saylor not buying for one quarter poses major risk.
* Treasury value could drop to $20 billion.
* MSTR holds a $2 billion cash reserve limit.
Timestamps:
00:00 Start
00:10 "I was wrong" - Udi
03:02 Layer 2
04:08 Recent Bitcoin history
07:56 On-chain activity will be fringe behavior
13:10 True believers & this cycle
17:37 narrative changes
21:02 Stablecoins
26:00 Agentic payments
27:26 Stablecoins & prediction markets
36:32 STRC selling BTC
43:22 Saylor thought experiment
47:05 Saylor BTC supply overhang
50:05 Saylor "folding"
57:48 10% of Gold supply
1:00:14 Is ANYTHING bullish now?
1:04:14 AI vibe coding
The Gwart Show is sponsored by Ellipsis Labs. Ellipsis Labs builds the
most efficient on-chain markets. Their orderbook and Prop AMM products
have delivered price improvement to hundreds of billions of dollars in
retail volume. Now, they are bringing their expertise to build Phoenix,
the best on-chain perpetuals platform.
Ellipsis Labs is hiring New York-based engineers. If you're an engineer
looking to work with a proven team in making DeFi better, go to
ellipsislabs.xyz/careers
Learn more about your ad choices. Visit megaphone.fm/adchoices
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