Jurrien Timmer of Fidelity stated that Bitcoin is a potential member of the store of value team.
Jurrien Timmer, Fidelity’s Director of Global Macro, recently issued a noteworthy statement regarding Bitcoin, characterizing it as “exponential gold” and an emerging participant on the “store of value” team. In a series of posts, Timmer explained the changing function of Bitcoin in the financial ecosystem.
Timmer emphasized the distinctive position of Bitcoin in the market and contrasted its development trajectory to the exponential adoption patterns observed in technologies such as the internet and mobile phones. He emphasized that Bitcoin’s potential as a long-term reserve of value, analogous to gold, is supported by its scarcity and increasing acceptability as a digital asset.
Timmer posited in his posts that the adoption rate and network development of the company are critical factors in its valuation. He observed that Bitcoin’s adoption is expanding at an exponential rate, despite the fact that it is still in its infancy in comparison to conventional assets. This observation lends credence to the notion that Bitcoin has the potential to serve as a substantial store of value in the future.
Timmer’s endorsement is consistent with a more general trend among institutional investors who acknowledge the potential of Bitcoin. His perspective further solidifies the increasing legitimacy of Bitcoin in the financial sector, implying that it could be a critical component of future investment strategies.
He concluded that the price of Bitcoin has continued to increase, despite the fact that the network’s development has halted in recent months. “In my opinion, the divergence between price and adoption may be the reason for the slight slowdown in Bitcoin’s progress toward prospective new all-time highs.” The movement of the pendulum is limited. The network may need to accelerate once more in order to maintain the new highs.
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