Fidelity Executive Highlights Bitcoin as ‘Exponential Gold’

Fidelity Investments chief executive Jurrien Timmer has described bitcoin as “exponential gold,” underscoring its potential to outperform gold under specific economic circumstances.
Jurrien Timmer, Fidelity Investments’ director of global macro, provides insight that envisions Bitcoin as a form of “exponential gold.” It highlights its ability to outperform gold’s appreciation in specific economic scenarios.

Bitcoin is increasing in value, not only as a digital currency, but also as a potential hedge asset during economic uncertainties. Proponents of bitcoin argue that it can act as a financial safe haven during periods of high inflation, low real interest rates and a growing money supply.

This view draws parallels to periods such as the 1970s and 2000s, when gold proved to be a robust investment. This means Bitcoin could match or even surpass gold’s historical performance while maintaining value.

Timmer’s extensive experience spanning nearly three decades at Fidelity is indicative of his bullish attitude toward Bitcoin. His 2021 forecast suggested that the market price of Bitcoin (BTC) could reach $100,000 by 2023, a significant increase from the current value of around $34,920.

Fidelity’s involvement in cryptocurrency goes beyond mere speculation. The company has a dedicated Fidelity Digital Assets division that provides custody and trading services for Bitcoin and Ethereum (ETH). Earlier this year, the platform quietly expanded to offer access to retail customers, signaling increased interest and adoption.

In addition, Fidelity is actively seeking regulatory approval for cryptocurrency-based financial products. The company recently filed a new application for a spot bitcoin exchange-traded fund (ETF), following its first attempt in 2021. This demonstrates Fidelity’s commitment to the cryptocurrency market and its belief in bitcoin’s potential as a valuable asset.