Sure, he doesn't have a chance of winning, this time at least. However, if he can swing just 5% of the vote, the libertarian party will have equal ballot access, and federal funding. With a three party system, more people will have heard of him and maybe the third party candidate will have a chance. So it is not a wasted vote to to vote for him as opposed to voting for the lessor of the two current evils offered by the Republican and Democratic parties.
"I get the thing all the time about a wasted vote," ... "Wasting your vote is voting for somebody you don't believe in. That's wasting your vote." G.Johnson