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Researchers at Fidelity Investments, one of the world’s largest asset managers, are doubling down on bitcoin, describing it as a “superior form of money” that gives it a value not replicated by other tokens.
In a white paper released last week, Chris Kuiper and Jack Neureuter wrote that bitcoin’s status as a “monetary good” and store of value puts it in a different investment category than other tokens, which they said exhibit venture-capital-like properties.
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For investors interested in digital assets, it’s best to think of those newer networks more like speculative venture-capital investments, the Fidelity researchers said, while bitcoin can be thought of as a monetary instrument.
In a white paper released last week, Chris Kuiper and Jack Neureuter wrote that bitcoin’s status as a “monetary good” and store of value puts it in a different investment category than other tokens, which they said exhibit venture-capital-like properties.
...
For investors interested in digital assets, it’s best to think of those newer networks more like speculative venture-capital investments, the Fidelity researchers said, while bitcoin can be thought of as a monetary instrument.
https://www.barrons.com/articles/fidelity-bitcoin-401k-accounts-5e359383
It has taken them a while, but at least they seem to have understood the value bitcoin brings people.
Yes, of course, at the time they know there is nothing they can do to stop Bitcoin from growing and getting into the mainstream. So they decided might as well join the fun and make some money along the way. Hence, many big and famous firms are now heaping praises on Bitcoin away from the time when many of them dismiss it as just another scam, fraud, worthless and even a Ponzi scheme. just how time has changed them...well I am just wondering whether these people can really be working good for Bitcoin in many years from now.
If an ETF is approved, Fidelity, Schwab, BlackRock and others will no doubt bring a lot of fiat to the table from retirement accounts and non retirement accounts. It will be a game changer particularly with the proximity to the halving.
