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 <p class="is-style-lead">Fidelity Investments <a rel="noopener noreferrer nofollow" title="executive" href="https://thebittimes.com/tag/executive.html">executive</a> Jurrien Timmer compares Bitcoin to “<a rel="noopener noreferrer nofollow" title="exponential" href="https://thebittimes.com/tag/exponential.html">exponential</a> gold,” emphasizing its potential to surpass gold’s value in response to certain economic conditions.</p>
 <p>Fidelity Investments’ Director of Global Macro Jurrien Timmer offers a perspective that sees Bitcoin as an “<a rel="noopener noreferrer nofollow" title="exponential" href="https://thebittimes.com/tag/exponential.html">exponential</a> gold,” highlighting its potential to outpace the value increase of gold under specific economic scenarios.</p>
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    <p lang="en" dir="ltr">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: pic.twitter.com/gNFtbOScr2</p>— Jurrien Timmer (@TimmerFidelity) November 1, 2023
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 <p>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 economic turbulence. 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.</p>
 <p>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.</p>
 <p>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 (BTC) could soar to $100,000 by 2023, a significant jump from its current price point of approximately $34,920.</p>
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  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Fidelity submits renewed application for spot bitcoin ETF
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 <p>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 (ETH). Earlier in the year, the platform quietly expanded to offer retail customer access, signaling a broadening interest and adoption.</p>
 <p>Moreover, Fidelity 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.</p>
 <p>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 Bitcoin ETF applications.</p>
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Fidelity, Schwab, and Citadel launch new institutional crypto exchange
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/fidelity-executive-calls-bitcoin-exponential-gold-tbt68887.html">https://thebittimes.com/fidelity-executive-calls-bitcoin-exponential-gold-tbt68887.html</a></p>

Fidelity executive calls Bitcoin “exponential gold”

TheBitTimes

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