As a multinational brokerage firm, Fidelity is a respected figure in the financial industry. You can expect that they have a good opinion on the market. They believe that Bitcoin (BTC) is a superior form of money which is a good sign for the crypto market since experts see them performing well in the long term.

Fidelity released a paper that argued that BTC is the most secure decentralized form of asset. They also added that it is different from the numerous digital assets traded in the market. They stand firm that there is no asset that can overtake the top cryptocurrency.

BTC is appealing to a lot of people since it is the top coin in the mainstream market. It also has a lot of uses in business and services. BTC can even be used to play <a href="https://gamdom.com/casino" target="_blank" rel="noopener">Bitcoin games</a> in online casinos which can work well since its value keeps rising. Let’s dive deeper into Fidelity’s arguments about BTC.
<h2><strong>They believe that Bitcoin has good characteristics </strong></h2>
Over the past decade and some years, people have seen Bitcoin’s growth into becoming a mega-asset comparable to the classic assets that we know of today. BTC has grown tremendously in such a short period that you can respect what it stands for. Cryptocurrencies are more than just a unique idea of using tech to innovate because it has so much intrinsic value apart from the monetary side.

In their paper, Fidelity wrote, ‘Bitcoin clearly possesses a lot of good qualities of money, combining the scarcity and durability of gold with the ease of use, storage and transportability of fiat’.

They believe that BTC’s qualities can be a sound form of money that can compete with the fiat assets that most people are familiar with. If you compare BTC with the United States dollar or the British pound sterling, you will get some curious looks but there will come a time when that will be the norm.

Of course, there is still instability with the crypto market right now but you can expect BTC to continue being a powerful asset as time goes on. Fidelity themselves have recommended that people should know more about BTC before diving in.
<h2><strong>Bitcoin can dominate the digital market</strong></h2>
While Fidelity themselves see other assets putting up a fight in the <a href="https://www.cryptoknowmics.com/news/followed-by-powells-statements-precious-metals-crypto-markets-and-stocks-waver/">crypto market</a>, Bitcoin is still the king when it comes to mainstream appeal because of its value and popularity among different demographics and various industries.

They wrote, ‘We won’t be so bold as to predict there will only ever be one money, but we do believe that one monetary good will come to dominate the digital asset ecosystem due to the very powerful effects of networks’.

It will be interesting to see how BTC fares against fi     at because the USD or GBP has decades or even centuries of history. Hopefully, more people can look into what BTC can do for the monetary system and how it can be integrated into people’s daily lives.

At the moment, only El Salvador has fully accepted BTC as a regular currency. That will last for a long while, especially since some countries are still sceptical of the concept of crypto and BTC. Hopefully, more people can get them and even play Bitcoin games too.

Fidelity argues that Bitcoin is a Superior form of Money

While Fidelity themselves see other assets putting up a fight in the crypto market, Bitcoin is still the king when it comes to mainstream appeal

As a keen observer of every latest development in the crypto world, Guest has formed a sound understanding of how the blockchain and cryptocurrency works. Guest likes to keep a tab on all the trends within the crypto industry and treats our readers with insightful content.

Fidelity argues that Bitcoin is a Superior form of Money

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