Trillion-dollar financial group calls Bitcoin an "ambitious store of value"

[thanhloancvn]

According to a new report, Fidelity Digital Assets - a subsidiary of the multi-trillion-dollar investment group Fidelity Investments, sees Bitcoin (BTC) as an "ambitious store of value" and a "policy." insurance ”for the struggling financial system.

Fidelity currently holds more than $ 8 trillion worth of assets and their digital asset branch was launched in October 2018.

Bitcoin is an "ambitious store of value"
The report - called "Bitcoin Investment Thesis: An Ambitious Value Repository," emphasized that Bitcoin meets the basic test to be considered a store of value, but has not yet passed. get that status:

According to John Pfeffer of Pfeffer Capital LP - who was mentioned in the report: “Most people in the world don't see Bitcoin as digital gold. As soon as people see it in a different way, the price will adjust. ”

Bitcoin is an "insurance policy".
The report also addresses the concerns surrounding governments printing money as a result of the Covid-19 financial crisis and it shows some people are losing faith in traditional economies:
John Vincent of Wakem Capital Management mentioned the move to print money in light of the recent Bitcoin halving event. "You don't need to be a PhD to understand that the supply of dollars has doubled while the supply of BTC has just halved," he said.

Another catalyst for the paper's recognition is the transfer of wealth from the old generation to the younger generation when young people loved Bitcoin more.

Do you think Price of BTC break 14K$ in Aug.2020?

[CucakRowo]

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Could be or could be not. Depends on community (buyer and seller) price "agreement". But with all this covid-19 case, recession fear and etc. I think price can break above $14k. With condition, people still believe in bitcoin, crypto and blockchain technology benefits.

[hatshepsut93]

"You don't need to be a PhD to understand that the supply of dollars has doubled while the supply of BTC has just halved," he said.

Lmao, you don't need to be a PhD to understand that the supply of Bitcoin didn't change, it was the rate of supply's increase. And "USD supply dobuled" - what is this bullshit? If it was true, inflation would be insane right now.

Anyway, Bitcoin will only become a store of value when volatility is over. Gold is a store of value because its value never dropped by 50% in one day.

[bttmember]

Superb. Now suddenly everyone is truly accepting and agreeing to the massive investment potential of bitcoin and other crypto currencies so if we see this alongwith the current trend we can confidently be more bullish for mid to long term.

[CucakRowo]

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Anyway, Bitcoin will only become a store of value when volatility is over. Gold is a store of value because its value never dropped by 50% in one day.
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This what i like. This is the most important part. I totally 100% agree with your opinion. I believe, many big investors would switch their assets on to bitcoin, as long as bitcoin volatility is not too high. The most important thing that needed by mostly investors is security, especially the "security (read: stability)" price of BTC.

[jacafbiz]

They can't ignore Bitcoin forever, if you look way the world is going digital asset is a big deal and they want a part of it,, I believe we will start seeing more of these Big hedge fund manager start allocating part of their portfolio to it, the stock market is a shit now that valuation is thrown out of the door. Big deal for the space

[audaciousbeing]

It does not matter the opinion of what anyone thinks of bitcoin, what matters is what the active players in the market reacts to. A lot of other people have said worse, countries have gone the route of banning, some other have criminalize the entire market while some others are ensuring they keep warning their citizens about the danger of the market. So, if this group are coming with this conclusion, it means that bitcoin has existed and important enough to get their attention which is the positive take away from whatever they might be trying to communicate in their report and published statement.

[20kevin20]

The future's going to look interesting. Big names of the world's industry supposedly kneeling to Bitcoin's increasing dominance while anti-BTC laws and policies are on the rise. Is it just me, or is this all a very subtle approach of a check-mate they're trying to get to?

I cannot truly trust a positive Bitcoin opinion coming from a person/group who's helped the worldwide wealth inequality and unfair financial system be a thing. Especially when you don't even know the basic BTC stuff, as hatshepsut93 mentioned.

[WannaCry]

bitcoin price speculation is a bit hard as we know the market is very volatile. even the TA's sometimes they are wrong or far from their analysis.. price will depend on the demand of the coin

[Baofeng]

bitcoin price speculation is a bit hard as we know the market is very volatile. even the TA's sometimes they are wrong or far from their analysis.. price will depend on the demand of the coin

Majority of TA are wrong, it is not an exact science, it's just wild and educated guesses.

Bitcoin is an "ambitious store of value" - really seems that the author is ignorant on what bitcoin can really bring to the people. They are really trying to spin everything, Lol, "ambitious", it is a speculative asset for all we know and has been treated as such that's why there are this so called "hodlers".

Bitcoin is an "insurance policy" - there's no such thing as insurance here, as one of the best speculative assets, it will be really volatile and you can't be sure of the price movement and no one can predict the price accurately.

[rexxarofmoknathal]

Well, that's exactly what it is. But it's also useful as a transactional unit.

Just like gold is an excellent store of value, but can also be bartered for goods and services in some places.

I think Bitcoin is more like gold 2.0. It has both excellent storage characteristcs AND excellent bartering value (something gold doesn't really have).

This essentially makes it money 2.0.