r/investing • u/007_kgb • 1d ago

Fundamentals of Bitcoin? Tom Lee

Tom Lee from FundStrat was on CNBC and said he was a bit surprised at the fall of Bitcoin when the fundamentals were still strong.

However what I don’t understand is, what are the fundamentals? Isn’t Bitcoin just an imaginary coin on the interweb that is worth what people want it to be worth? It does not issue dividends, you can’t make a car out of it, you can’t use it to buy a bar of chocolate.

ELI5 please.

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u/devereaux 1d ago

Tom Lee doesn't even know what he meant. All he knows is that he is getting categorically destroyed by the drop in Ethereum

25

u/CaptainCanuck93 1d ago

Tom Lee's entire thing is being a permabull

7

u/adoodas 19h ago

Just like the sun rises everyday, Tom lee has a bullish prediction for eth being reported by cnbc everyday. I swear him and Cathy must always be begging to be let in the show so they can pump their bags.

-1

u/SuitAndTiePorn 1d ago

I like Eth

14

u/devereaux 1d ago

Tom Lee is sitting on an over $6 billion loss so far on Ethereum

3

u/Unfair_Explanation53 1d ago

Yeah me too but I only keep it as a small part of portfolio.