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BOSTON, MA – Jurrien Timmer, the director of global macro at Fidelity Investments, has recently expressed his bullish stance on Bitcoin, describing it as “exponential gold.” Timmer’s remarks come amidst an upward price trend for the cryptocurrency this year. 
<img decoding="async" class="wp-image-23833 alignleft" src="https://cryptobullsclub.com/wp-content/uploads/2023/11/Fidelity-Investment.png" alt="Fidelity Investment" width="388" height="192"> 
In a recent statement, Timmer elaborated on his views: 
<blockquote>
 “In my perspective, bitcoin stands as a commodity currency aiming to be both a store of value and a safeguard against monetary erosion. I perceive it as a more agile and rapidly appreciating counterpart to gold.”
</blockquote> 
Drawing parallels with historical economic conditions like high inflation, negative real interest rates, and significant money supply growth as witnessed in the 1970s and 2000s, Timmer asserted that Bitcoin could potentially mirror or even surpass gold’s performance during such periods. 
The Fidelity veteran, boasting nearly three decades with the firm, initiated his exploration into the world of Bitcoin towards the end of 2020. The following year, he anticipated Bitcoin’s increasing market dominance over gold and foresaw its price escalating to $100,000 by 2023. However, as of now, Bitcoin’s valuation hovers around $34,620. 
Reiterating his optimistic outlook, Timmer last year highlighted his confidence in the premier cryptocurrency. He endorsed it as a budding store of value, especially pertinent in the current climate of “ongoing financial repression.” 
Boston-based Fidelity Investments, renowned for its diverse financial services ranging from mutual funds to retirement services, has been proactive in the cryptocurrency space. Its crypto-centric wing, Fidelity Digital Assets, has been facilitating bitcoin and ether custody and trading services. Earlier in 2023, the digital assets platform discreetly rolled out its Fidelity Crypto platform to retail clientele. 
Furthermore, Fidelity, in June, <a href="https://cryptobullsclub.com/fidelity-resubmits-application-for-bitcoin-etf/">refiled an application</a> for a <a href="https://cryptobullsclub.com/blackrock-bitcoin-spot-etf/">spot bitcoin exchange-traded fund (ETF)</a>, following its inaugural proposal in 2021. This move is in sync with other asset management giants like BlackRock, WisdomTree, and Invesco, all of whom are currently awaiting a verdict from the Securities and Exchange Commission on their respective <a href="https://cryptobullsclub.com/bitcoin-etf/">Bitcoin ETF</a> submissions.

Fidelity’s Jurrien Timmer Describes Bitcoin as ‘Exponential Gold’

Cryptobullsclub

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