Bitcoin To “Take More Market Share From Gold,” Says Fidelity’s Director Of Global Macro

2021-3-3 19:20

Amidst the ongoing bull market, everyone has a view on Bitcoin, and they are just as keen to share it with the world. Banks and institutions are particularly interested in the crypto market after the ultra-loose monetary policy of the central banks.

Jurrien Timmer, Director of Global Macro at Fidelity Global Asset Allocation, is the latest one whose report on the leading digital cryptocurrency talks about Bitcoin being considered a “legitimate and distinct asset class” among an increasing number of investors and portfolio managers.

A finite asset by design, Bitcoin has both a unique and compelling supply and demand dimension, it states.

“As its network increases, bitcoin’s value and durability could increase even faster,” adds the report.

According to Timmer, Bitcoin is also seen as a form of “digital gold” and may act as a stable store of value. Moreover, the cryptocurrency can potentially offer protection against inflation and even hyperinflation, he wrote.

Despite all the benefits Bitcoin offers, Timer is of the opinion that “bitcoin may not be an appropriate or prudent diversifier for all portfolios.”

The director of Global Macro then goes on to list the risks faced by the digital asset, including volatility, competitors, substitutes, and regulation.

“Fidelity head of global macro still doesn't get Bitcoin…these risks are invalid. Still early,” commented Charles Edwards of Caprioleio Investments.

The 10-page long report points out how Bitcoin is just a fraction of gold’s total global value of roughly $11 trillion still, not to mention total global financial assets of $160 trillion. Timmer said,

“With interest rates close to zero—or negative—and central banks printing money like there’s no tomorrow, is it any wonder that bitcoin seems to be having its day?”

He expects Bitcoin to “take more market share from gold” over time as a digital-analog of the precious metal but with greater convexity.

Bitcoin/USD BTCUSD 48,190.5027 -$679.49 -1.41% Volume 45.87 b Change -$679.49 Open$48,190.5027 Circulating 18.64 m Market Cap 898.42 b baseUrl = "https://widgets.cryptocompare.com/"; var scripts = document.getElementsByTagName("script"); var embedder = scripts[scripts.length - 1]; var cccTheme = {"Chart": {"fillColor": "rgba(248,155,35,0.2)", "borderColor": "#F89B23"}}; (function () { var appName = encodeURIComponent(window.location.hostname); if (appName == "") { appName = "local"; } var s = document.createElement("script"); s.type = "text/javascript"; s.async = true; var theUrl = baseUrl + 'serve/v1/coin/chart?fsym=BTC&tsym=USD'; s.src = theUrl + (theUrl.indexOf("?") >= 0 ? "&" : "?") + "app=" + appName; embedder.parentNode.appendChild(s); })(); var single_widget_subscription = single_widget_subscription || []; single_widget_subscription.push("5~CCCAGG~BTC~USD"); The post Bitcoin To “Take More Market Share From Gold,” Says Fidelity’s Director Of Global Macro first appeared on BitcoinExchangeGuide.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) íà Currencies.ru

$ 98058.57 (-0.14%)
Îáúåì 24H $42.477b
Èçìåíåèÿ 24h: -0.49 %, 7d: 7.39 %
Cåãîäíÿ L: $97633.19 - H: $98572.23
Êàïèòàëèçàöèÿ $1940.25b Rank 1
Öåíà â ÷àñ íîâîñòè $ 48106.05 (103.84%)

bitcoin director fidelity global says macro take

bitcoin director → Ðåçóëüòàòîâ: 126


Bitcoin tries to take away monetary monopoly from govt says former director of U.S. mint

The 38th director of the U.S. Mint, Ed Moy spoke about Bitcoin with Naomi Brockwell, the inherent decentralization that it brings to the table, along with other advantages. Ed Moy, well-known supporter crypto, said that Bitcoin and other cryptocurrencies will take away the monopoly government has over money, which has caused them to be reluctant […] The post Bitcoin tries to take away monetary monopoly from govt says former director of U.S. mint appeared first on AMBCrypto.

2019-7-22 14:00


China’s central bank is developing a state-run cryptocurrency in response to Facebook’s Libra

China’s central bank is creating its own cryptocurrency in response to Facebook’s Libra, said Wang Xin, director of the People’s Bank of China’s (PBOC) research bureau. Reasoning behind China’s hostility towards cryptocurrency China’s stance towards Bitcoin, and cryptocurrency in general, has been hostile—and understandably so.

2019-7-9 03:12


CME Trader Buys Bitcoin Dip at $10,000 Because It’s a ‘Genuine Dollar Hedge’

Jim Luorio, a managing director at TJM Institutional Services and a trader on CNBC’s Futures Now, believes the bitcoin dip at the $10,000 level is worth considering. On CNBC’s Futures Now, Luorio said: I am actually starting to see bitcoin for what it may be; and that really is a genuine dollar hedge safe haven […] The post CME Trader Buys Bitcoin Dip at $10,000 Because It’s a ‘Genuine Dollar Hedge’ appeared first on CCN Markets

2019-7-3 17:13


Ôîòî:

Stolen Bitfinex Funds Are On The Move

After a 2016 hack that resulted in 119,756 bitcoin being stolen from Bitfinex, a total of 720 bitcoin have now been moved by the hacker. Though some thought this suggested that Bitfinex had succeeded in making a deal with the hacker to receive some of the stolen funds back, Bitfinex's Marketing Director says this wasn't part of the redemption process outlined in the exchange's LEO token white paper.

2019-6-8 19:11


New Bitcoin Documentary, “Bit x Bit: In Bitcoin We Trust”, Released Today

A new bitcoin documentary called, “Bit x Bit: In Bitcoin We Trust” was released earlier today. The third film from director David Foox is now available on iTunes and other platforms. The movie was created with the goal of educating everyone “about a new value transfer system based on blockchain technology,” according to a press […]

2019-6-5 04:23


Ôîòî:

Bullish on Bitcoin, Bearish on Trade Relations With Jeffrey Tucker

Dave and Grahm are back with news and price narratives around 2019’s top-performing financial asset. This week’s stories include mainstream media’s Bitcoin FOMO, the real story of Laszlo Hanyecz (the guy behind Bitcoin Pizza Day), Dutch authorities taking down Bestmixer, Tether being partially backed by bitcoin and what Libertarian politician Ron Paul thinks about the U.

2019-5-29 16:42


Latest Deloitte Research Shows Warming Interest in Blockchain Among Corporate CEOs

Deloitte has already taken steps to become involved with blockchain. The company has ditched Ethereum, adopted VeChain, and is looking ahead at overtaking bitcoin transactions. Director and Consultant Cillian Leonwicz shared in LinkedIn about a week ago: “We wrote more transactions than Bitcoin over the weekend by migrating our client work from Ethereum to VeChain […]

2019-5-8 20:45


Thailand’s ban on crypto was always meant to be a temporary solution, says Thai SEC’s FinTech Director

Thailand was one of the nations to initially impose a ban on the use of cryptocurrencies, before permitting it with regulations in place. The Thai Securities and Exchange Commission [SEC] clarified that crypto-exchanges must seek approval from Thailand’s SEC and also provided an approved list of cryptocurrencies for the crypto-community.

2019-4-27 06:30


Tiffany Hayden Claims XRP Price Will Eventually Catch Up With Development!

In a heated debate on Twitter, Financial advisor and XRP enthusiast Tiffany Hayden was embroiled in a discussion around the price of XRP. CCN News initially tweeted an article regarding PayPal Director Xapo CEO Wences Casares stating ‘One Bitcoin Could Exceed $1 Million in 7-10 years” The tweet caught the attention of many followers quite […] The post Tiffany Hayden Claims XRP Price Will Eventually Catch Up With Development! appeared first on ZyCrypto.

2019-4-16 09:50


Ôîòî:

InfoSec: The New York Times Way

The New York Times has revealed the steps it takes to protect its journalists’ privacy and online security. Speaking to Vice on the CYBER podcast, Runa Sandvik, the newly-instated senior director of information security at The New York Times shed light on the tools and practices employed by the media organization to maximize safety forRead MoreRead More.

2019-4-10 05:00