A significant portion of cryptocurrency investors discovered this field before they even became acquainted with the markets, and one of these giants is Fidelity. This company has believed in the future of Bitcoin for years and started talking about the king of cryptocurrencies long before it became a phenomenon followed by massive crowds.
Is Bitcoin Better Than Gold?
One is physical, the other is digital, and both have many followers. Moreover, soon, just like gold, BTC‘s spot ETF will be launched. Or at least, there have been many developments supporting this expectation. Jurrien Timmer from Fidelity Investments spoke about Bitcoin today. The company has a serious interest in Bitcoin, and we mentioned that this has been going on for years.
According to the manager of Fidelity Investments, BTC, although often compared to gold, can increase in value faster than the yellow, shiny metal.
“In my opinion, Bitcoin is a commodity currency that aims to be a store of value and provide protection against material value loss. I see it as digital gold.”
Jurrien Timmer, the Global Macro Director of Fidelity Investments, also stated that the upward trend for BTC could continue this year.
The Future of Bitcoin
Timmer, who said that BTC is better than gold and its price can increase exponentially, made some comments supporting this. According to him, specific economic conditions such as high inflation, negative real interest rates, and excessive money supply growth will lead to a period of rise for BTC, at least as much as gold. He supported this view by referring to the periods of 1970 and the 2000s in history.
Timmer, who has been working at Fidelity for about 29 years, entered the world of Bitcoin in late 2020. In 2021, he expressed the expectation that Bitcoin would gradually gain more market share than gold. This means that BTC can increase by approximately 14.6 times compared to gold’s $10 trillion market value (at today’s value).
If BTC surpasses the $10 trillion threshold, it can rise up to $500,000. Although this may sound unbelievable, it is possible for the global demand wave to push Bitcoin to even higher levels. Fidelity alone manages assets worth $11.7 trillion, and BTC does not even need a net inflow of $1 trillion for its price to exceed the $10 trillion market value.
