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Fidelity Investments executive Jurrien Timmer compares Bitcoin to “exponential gold,” emphasizing its potential to surpass gold’s value in response to certain economic conditions.
Fidelity Investments’ Director of Global Macro Jurrien Timmer offers a <a href="https://twitter.com/TimmerFidelity/status/1719842775892398213" data-type="link" data-id="https://twitter.com/TimmerFidelity/status/1719842775892398213" target="_blank" rel="noopener noreferrer nofollow">perspective</a> that sees Bitcoin as an “exponential gold,” highlighting its potential to outpace the value increase of gold under specific economic scenarios.
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 Bitcoin is on the move again (following the pattern of previous boom-bust cycles, so far). What to make of it? Let’s revisit my thesis from late 2020: 🧵 <a href="https://t.co/gNFtbOScr2" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/gNFtbOScr2</a>— Jurrien Timmer (@TimmerFidelity) <a href="https://twitter.com/TimmerFidelity/status/1719842775892398213?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">November 1, 2023</a>
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The value of Bitcoin has been rising, spotlighting its potential not merely as a form of digital money but also as a possible protective asset during <a href="https://crypto.news/blockchain-really-is-the-answer-to-the-current-banking-saga-opinion/" data-type="link" data-id="https://crypto.news/blockchain-really-is-the-answer-to-the-current-banking-saga-opinion/" rel="noopener noreferrer nofollow">economic turbulence</a>. Advocates for Bitcoin suggest that it could serve as a financial safe place in times marked by rampant inflation, sub-zero real interest rates and surging money supply.
This perspective draws parallels with eras like the 1970s and 2000s, when gold proved to be a robust investment, implying that Bitcoin could meet or exceed gold’s historical performance in safeguarding value.
Timmer’s expertise, backed by nearly three decades at Fidelity, informs his bullish stance on Bitcoin. His forecast, made in 2021, predicted Bitcoin’s market price (<a href="https://crypto.news/price/bitcoin/" data-type="link" data-id="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) could soar to $100,000 by 2023, a significant jump from its current price point of approximately $34,920.
You might also like: <a href="https://crypto.news/fidelity-submits-renewed-application-for-spot-bitcoin-etf/" rel="noopener noreferrer nofollow"> Fidelity submits renewed application for spot bitcoin ETF </a>
Fidelity’s engagement with cryptocurrency extends beyond mere speculation. The firm boasts a specialized branch, Fidelity Digital Assets, which provides custody and trading services for Bitcoin and Ethereum (<a href="https://crypto.news/price/ethereum/" data-type="link" data-id="https://crypto.news/price/ethereum/" rel="noopener noreferrer nofollow">ETH</a>). Earlier in the year, the platform quietly expanded to offer retail customer access, signaling a broadening interest and adoption.
Moreover, <a href="https://crypto.news/fidelity-may-be-considering-a-bitcoin-spot-etf/" data-type="link" data-id="https://crypto.news/fidelity-may-be-considering-a-bitcoin-spot-etf/" rel="noopener noreferrer nofollow">Fidelity</a> has been proactive in seeking regulatory approval for cryptocurrency-based financial products. The company recently filed a new application for a spot Bitcoin exchange-traded fund, following its initial attempt in 2021.
This move comes as part of a larger industry trend, with asset management behemoths such as BlackRock, WisdomTree, and Invesco also in the queue, awaiting the Securities and Exchange Commission’s decision on multiple <a href="https://crypto.news/sec-accepts-bitcoin-etf-applications-from-blackrock-fidelity-galaxy-digital/" data-type="link" data-id="https://crypto.news/sec-accepts-bitcoin-etf-applications-from-blackrock-fidelity-galaxy-digital/" rel="noopener noreferrer nofollow">Bitcoin ETF applications</a>.
Read more: <a href="https://crypto.news/fidelity-schwab-and-citadel-launch-new-institutional-crypto-exchange/" rel="noopener noreferrer nofollow"> Fidelity, Schwab, and Citadel launch new institutional crypto exchange </a>

Fidelity executive calls Bitcoin “exponential gold”

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