Fundstrat’s Tom Lee: 99% of USD is Speculative, Why Discredit Bitcoin?

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Bitcoin critics say that the cryptocurrency should never be regarded as a means of exchange because it’s mostly used for speculation. Fundstrat’s Thomas Lee disagrees with this statement, saying that most of the US dollars are used for speculation as well. Almost 99% USD Activity is Speculation Venture capital firm Castle Island Venture recently interviewed Tom Lee, Managing Partner and the Head of Research at Fundstrat Global Advisors. In the latest On the Bring podcast, Lee argued that only a small portion of US dollars are used to buy and sell goods or services, while the rest of it is used for speculating on other assets. Thus, it is not fair to attack Bitcoin. For every dollar that you use to buy a good or a service, it’s used 95 five times to speculate on a financial asset If we do the math, according to Lee’s logic, only 1% of…

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