Happy Tuesday!

Bitcoin is like McDonald’s, but with a twist, says Tom Lee. Doesn’t make sense? Yes, it does, if you follow his explanation.

Coinbase, Circle and other crypto stocks are tumbling after a strong July. What is driving the decline?

Plus, if you’re interested in a dynamic holding company making moves across fintech, telecom and AI, check out today’s sponsor.

TOP STORY

Fundstrat’s Tom Lee: Owning Bitcoin Is Like Owning Land Under A McDonald’s

Bitcoin is undergoing a reframing in how institutions may treat it, not as a volatile asset, but as digital infrastructure akin to real estate.

Fundstrat co-founder and Bitmine chairman Tom Lee drew a sharp analogy in a conversation with Bitwise, stating that Bitcoin as a treasury asset is like owning the land underneath a McDonald’s franchise, not running the business.

“It’s better to be the landowner of a McDonald’s franchise than the operator,” Lee said, explaining that corporations may begin viewing Bitcoin as a foundational asset.

What did he mean by that?

Read the full scoop here. 

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QUICK N DIRTY

Bitcoin, Ethereum, XRP, Dogecoin are dipping on Tuesday after their strong bounce on Monday: what is driving markets today?

Ethereum has rebounded nicely off its lows, and analysts are already talking about when the $4,000 mark could fall. Is a new rally on the cards?

Litecoin is the latest treasury asset hit among companies — here’s who bought and how much.

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FINTECH FOCUS

Coinbase, Circle, Metaplanet Stocks Tumble: What's Driving The Decline?

A wave of sharp drawdowns across crypto-exposed equities like Coinbase, Circle, and Metaplanet is pointing to a broad market rejection of inflated valuations.

The declines, driven less by macro headwinds and more by overpayment for narrative-driven exposure, are triggering a necessary reset in how investors price crypto’s equity proxies, according to 10x Research.

Why are crypto equities undergoing a painful repricing?

Read the full scoop here. 

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