Bitcoin Deemed ‘Exponential Gold’ by Fidelity’s Global Macro Expert
Fidelity Investments’ Director of Global Macro, Jurrien Timmer, views bitcoin as “exponential gold” and a promising store of value.
He attributes bitcoin’s price growth to its expanding network, driven by its scarcity, monetary and fiscal policies, and market sentiment. Timmer shared on social media platform X that bitcoin’s price follows its network growth along a power curve, with periodic boom-bust cycles.
He noted that while network growth has slowed recently, bitcoin’s price continues to rise. Timmer suggests that for bitcoin to reach new highs, its network growth must accelerate, potentially influenced by future fiscal and monetary policy developments.
Clever Robot News Desk 18th June 2024
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