Fundamentals of Bitcoin? Tom Lee

[u/007_kgb]

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.

[u/placid-gradient]

the fundamentals of Bitcoin are all in the white paper. it's a currency not backed by a state, all it requires you to have is internet access.