As I’ve said before, bitcoin is nothing more than a confidence game. It’s worth nothing if people suddenly lose their confidence in this fake digital currency. It’s backed by nothing. It’s the definition of a con.
I’ve said the same thing when a bitcoin was selling for $20,000. And still was saying it when it plunged to $4,000. Its real worth: $0.
An analyst named Tom Lee, of little-known Fundstrat Global Advisors, seems to be going to heroic lengths to promote bitcoin. He should be the first to be asked his opinion and how much of his own money is invested in the crypto market.
Eulogy made by John Crudele