The Crypto Bear Market of 2025...Makes Sense To Me.

Good morning…

It is ugly out there in crypto land and the selloff is accelerating.

In January of this year I wrote - pace yourself for the crime. Unlike the rest of the technology podcast grifters, I thought it was a terrible idea to make David Sacks the ‘czar’ of crypto (he is also the ‘czar’ of AI which is harder to screw up but I am confident he is a disaster at that too).

Take a look at the mess that has taken place with the markets just barely off their all-time highs…

Microstrategy ( $MSTR ( ▼ 9.54% ) ) is down 10 percent today and over 60 percent from its all time highs.

Coinbase ( $COIN ( ▼ 4.15% ) ) is down 40 percent from recent all-time highs.

Bitcoin ( $BTC.X ( ▼ 2.56% ) ) is down over 25 percent from all-time highs.

It gets much worse when you get to the alt/shitcoins.

The ‘fartcoin’ bull market was stupid and doomed of course, but funny. In December of last year I thought about writing a children’s illustrated investing book titled ‘My First Fartcoin’. If I had, I would be following up that book just a year later with a sequel titled ‘My First Big Tax Loss’.

Fartcoin is down over 90 percent from its ridiculous $1 billion valuation.

David Sacks looked the other way as Trump, Melania and friends took a shit on the markets and floated their shitcoins now both down over 90 percent.

The White House and the ‘czars’ ran a no cost/no accountability grift on the public and now we have bagholders galore.

The ‘degenerate economy’ is taking it on the chin.

The aftermath of this negligence, grift and endless supply is of course a nasty bear market.

The markets need to heal and somehow deal with all the supply.

At the moment, fundamentals and valuations matter. Makes sense to me.