Bitcoin

Apple

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Jurrien Timmer, Fidelity's director of global macro, took to X to <a href="https://twitter.com/TimmerFidelity/status/1719842775892398213" rel="noopener noreferrer nofollow">express</a> his views on the world's leading cryptocurrency, Bitcoin.&nbsp;
He describes the digital asset as a "commodity currency" that aspires to be a store of value and a hedge against monetary debasement, coining the term "exponential gold."&nbsp;
Timmer made a distinction between gold's primary function today, as a store of value, and Bitcoin's potential to play a similar role in the digital age.
<h2 id="the-digital-age-s-store-of-value">The digital age's store of value</h2>
Comparing gold's historical significance as money to Bitcoin's prospective role, <a href="https://u.today/fidelitys-timmer-predicts-bitcoin-revival" rel="noopener noreferrer nofollow">Timmer</a> pointed out the former's limited utility in modern transactions due to its "deflationary and clunky" nature.&nbsp;
He emphasized the reasons <a href="https://u.today/bitcoin-finally-enters-bullish-phase-based-on-this-indicator" rel="noopener noreferrer nofollow">Bitcoin</a> is often juxtaposed with gold, noting historical periods like the 1970s and 2000s when gold thrived during inflationary regimes, negative real rates, or excessive money supply growth. Timmer sees potential in Bitcoin serving a similar purpose during such times.
The two assets frequently get compared. Bitcoin, though intangible, captures many of gold's store-of-value attributes but in a digital format. Its decentralized nature, limited supply, and resistance to censorship make it an attractive digital counterpart to gold.
<h2 id="timmer-s-previous-takes-on-bitcoin">Timmer's previous takes on Bitcoin</h2>
Earlier in the year, Timmer drew parallels between Bitcoin and the dot-com bubble, indicating the possibility of another revival for the cryptocurrency.&nbsp;
Despite Bitcoin's 60% fall from its 2021 peak, Timmer viewed it as an "aspirational money", comparing its value retention attributes to gold.&nbsp;
Citing the dot-com bubble's aftermath, where tech giants like <a href="https://u.today/apples-app-store-policies-on-blockchain-questioned-by-us-lawmakers-details" rel="noopener noreferrer nofollow">Apple</a> and <a href="https://u.today/solana-nodes-available-on-amazon-web-services" rel="noopener noreferrer nofollow">Amazon</a> emerged victorious, Timmer hinted at Bitcoin potentially being the digital asset's equivalent of Apple.&nbsp;
However, in a contrasting view months later, he also expressed caution, suggesting Bitcoin's growth might be outpacing the current macroeconomic conditions.

Fidelity Exec Calls Bitcoin "Exponential Gold"

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