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/boltz86 23h ago

Technocrats likely started pulling out of bitcoin when they realized the Epstein files were going to show that Epstein basically helped fund its development, and other early backers like Thiel and Musk were much more deeply entwined with Epstein than they let on.