Jurien Timmer, global all-inclusive manager at financial giant Fidelity, said that Bitcoin could be following gold’s coming of age path during the 1970s.
Timmer told his 61,400 Twitter followers that Bitcoin is hopeful asset classes full of potential much like the gold that was 50 years ago. Timmer also explained that during the 70s, the yellow metal could go from side to side a confused stage.
When looking towards Bitcoin, Timmer said that the foremost cryptocurrency has more advantage than the gold had in the 1970s due to the verifiable scarcity and the network belongings of BTC. However, the Fidelity global macro strategist has tinted that the upside prospective of Bitcoin is departing to come with a better drawdown. Timmer also traced the prices events for Bitcoin over the last two years and compared the gold’s rise in value five decades ago.
The Fidelity decision-making also unveils that his BTC supply and the demand models, which he said that the present Bitcoin bang series has much gas left in the tank.