Lekker Capital Stays Bearish on Crypto as Bitcoin Lags Tech in One of Biggest Divergences
Updated
Updated · CoinDesk · Jun 9
Lekker Capital Stays Bearish on Crypto as Bitcoin Lags Tech in One of Biggest Divergences
1 articles · Updated · CoinDesk · Jun 9
Summary
Quinn Thompson said Lekker Capital is staying firmly bearish on crypto into the summer, arguing bitcoin is flashing warning signs even as much of tech has remained resilient.
Bitcoin’s underperformance reflects what he calls structural pressure from digital asset treasury concerns, unresolved questions around Strategy’s STRC preferred shares, quantum-computing risks, weak liquidity and persistent selling.
Thompson is also turning cautious on technology, saying Magnificent Seven leadership has faded while hyperscalers face rising debt, weaker free cash flow and reduced buybacks as AI capex surges.
Trillions of dollars in potential IPO supply from names such as SpaceX, Anthropic and OpenAI could further drain market liquidity, in his view, leaving both crypto and AI leaders with a difficult path.