There are a number of characters that get worldwide media publicity because, many years ago, they made a good prediction or two. Cathie D. Lee is one of them. The other, whom I truly detest, is Tom Lee of Fundstrat. What bothers me more than his foppish, effeminate mannerisms is the fact that he’s always pushing crypto and making completely outlandish predictions, such as projecting that Bitcoin will be worth $2 million to $3 million per coin eventually. What a bunch of nonsensical horseshit.
I cannot remember a single instance – – not one – – in which I’ve read a Tom Lee prediction that came anywhere near coming true. The latest has been him mincing about in front of the cameras declaring that Bitcoin would be $180,000 by January 31st (that is to say, right about now). I just took a glance, and the king of crypto is collapsing toward $81,000 as of this composition. So he nailed the prediction, except for the extra $100,000 part.
Over a somewhat longer timespan, $BTC has lost over one-third of its peak value. My view is that people are realizing how utterly useless this “innovation” is. I daresay crypto will be one of the biggest financial wipeouts in human history, in spite of the scumbags and grifters, from David Sacks all the way down, who have been pushing this scam for years.
Hand-in-hand with this collapse is Michael Saylor’s Strategy (MSTR), a financial house of cards which is worth a mere 25 cents on the dollar compared to December 2024.
I’d say the odds of crypto turning into an important part of the world financial structure is about the same as Tom Lee being voted as People magazine’s Sexiest Man Alive.
