Latest / Simply Bitcoin / Fidelity Just Said Bitcoin is Exponential Gold! | SIMPLY ORIGINALS

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Fidelity Just Said Bitcoin is Exponential Gold! | SIMPLY ORIGINALS · Simply Bitcoin

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  You can see the distribution of the positive versus the negative
• 0:04
  returns for Bitcoin is much more positively skewed than it is for
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  silver and gold. And so to me, This is why
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  Bitcoin is kind of the the the new version of gold and silver
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  is because of its, of its convexity.
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  It's like a more convex version of gold because of its network
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  effects and its increased scarcity, that this has become
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  kind of the leader in terms of hedging against monetary
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  inflation. Getting pretty hard to deny that
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  the Bitcoin bull has arrived, and that was Fidelity's global
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  macro Director Jury and Timmer dropping a bombshell on the
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  Bitcoin versus gold debate. And he didn't stop there.
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  He said Bitcoin is in its own stratosphere and projects that
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  possibly Bitcoin could hit 700 K this cycle.
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  Is he insane? I don't know.
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  We're getting a lot to cover. Let's get it.
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  So Jerry and Timmer, the global macro director of Fidelity
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  Investments, said that although often compared to gold, Bitcoin
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  can increase in value faster than the yellow shiny rock
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  quote. In my view, Bitcoin is a
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  commodity currency that aspires to be a store of value and hedge
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  against monetary debasement. Now we've heard digital gold,
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  but Timmer says I think of it as exponential gold.
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  Now let's see why. All right, let's go ahead and
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  run through Timmer's thread here.
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  Bitcoin is volatile, but it's scarcity and adoption curve
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  creed. Potential for it to be a
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  high-powered hedge against monetary shenanigans.
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  I think of it as exponential. Gold.
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  This rally is way beyond the rumor.
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  I think the. The rally today is about a
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  flight to quality with all the, you know, all the issues around
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  the Israeli war now global. Terrorism.
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  And I think there's more people running into a fight the
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  quality, whether that isn't treasuries, gold or crypto,
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  depending on how you think about it.
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  And I believe crypto will play that type of role as a flight to
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  quality. Next, he gets into Bitcoins.
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  Adoption is one of the attributes of Bitcoin is that
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  it's a network asset, and as such its adoption curve has
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  followed the typical S curve shape.
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  We've seen many of these throughout history, but man,
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  that Bitcoin line is pretty steep.
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  So where is Bitcoin along the S curve and network asset value?
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  Driven by its adoption. So the slope of that curve does
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  matter. As we know the the supply of
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  Bitcoin is already fixed set. Its monetary schedule is known.
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  The only variable then to add in is demand.
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  And Timmer may echo some of us when we first went down the
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  Bitcoin rabbit hole, its adoption curve, which he defines
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  as the number of nonzero addresses, was very steep.
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  It resembled the S curve for mobile phones during the 1980s
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  and 90s. Also echoing Michael Saylor, who
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  called that one and was one of the first ones on Wall Street to
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  get in other? Than jury and Timmer because
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  Fidelity got involved in 2015. Even been mining as far back as
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  such. So let's get into more of what
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  Timmer was talking about. Bitcoin is exponential gold, but
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  what makes it valuable? Well, monetary debasement.
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  I mean, Bitcoin was designed to be the safe haven now more into
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  Timmers projections as he hints at a bullish Bitcoin future.
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  If history rhymes say it followed 2011 and 2013 trends.
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  He believes this could catapult Bitcoin to 700 KA.
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  More modest outlook mirroring 2017.
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  Just a rise to 200, three, 100K we talked about yesterday.
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  We kind of talk about it all the time, but there appears to be an
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  awakening to the understanding that there is Bitcoin and then
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  there's everything else from Larry Fink and we got more of
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  that coming. Michael Saylor, this FTX debacle
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  was a great advertisement for why Bitcoin and not crypto.
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  But right here and this is. Again, Jurian Timmer.
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  He created this risk reward chart for investment assets and
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  the report stated that Bitcoins risk reward is in a different
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  universe and they're not wrong. Well, I mean, think about FTX.
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  I mean, you could look back now. FTX created it.
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  Its failure was it's creating its own token.
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  It was not a defy. It wasn't, it wasn't a, you
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  know, a a Ledger that was open to the world.
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  It was a clear Ledger, right. It was not distributed.
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  So the whole foundation of what crypto is, it's supposed to be a
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  distributed Ledger. That is.
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  Across the system, I actually believe this technology is going
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  to be very important. Man, it's very interesting.
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  Take a look at the past couple days of Simply Bitcoin Live and
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  yesterday's episode. Kind of getting into this, but
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  everyone is flying to quality, flying to safety.
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  But what are they fleeing from? And that is essential.
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  And it is the insane economic damage that has been caused by
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  central planners, the Fed and inept politicians for.
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  Way too long and Bitcoin is here to rebalance the scales and give
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  that power back to the people exposure.
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  Really. Yes.
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  I'm encouraged by how many people are focusing on it.
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  I'm encouraged about the narrative, but I don't believe
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  we should think about crypto as a substitute of currency.
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  But I am fascinated by it as an asset class, specifically on.
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  Bitcoin. We're a believer in digitization
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  of products and we do believe it could revolutionize finance.
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  It's digitized. Sizing gold in many ways as a
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  hedge against inflation, a hedge against the devaluation of your
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  currency. Bitcoin is an international
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  asset, and so it can represent a asset that people can play as an
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  alternative. The foundation of BlackRock is
• 5:20
  about hope. The institutional floodgates are
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  about to open and it is epic that we've had the opportunity
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  to front run these people. But be sure to self custody your
• 5:31
  Bitcoin, get them off exchanges and if you need any help using
• 5:34
  Bitcoin best practices or have questions on what wallets, what
• 5:38
  nodes, things of that nature, well we got just the guys to get
• 5:41
  you started. As your dedicated Bitcoin IT
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  planning and much more while remaining 100% in control.
• 6:01
  Book a free 30 minute call to get started using that link
• 6:04
  below. So much major bullish news
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  coming out the past few weeks and it looks like Vanguard and
• 6:08
  Van Eck and BlackRock are kind of projecting the ETF to be
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  approved by the end of this month.
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  So buckle up guys, make sure to like, subscribe, share that
• 6:16
  sound money gospel. We got some more fun stuff
• 6:18
  coming your way this weekend, so make sure set those
• 6:20
  notifications and follow us on Twitter, where we're getting all
• 6:22
  the breaking news. Out there, follow all things
• 6:24
  simply and we will be your guide through the peaceful Bitcoin
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  revolution. I'll catch you all tomorrow.
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  Peace.