Fidelity’s Global Macro Director Says Bitcoin Has Evolved to Become Digital Gold

Jurrien Timmer, Director of Global Macro Fidelity Global Asset Allocation believes Bitcoin has evolved as an asset class over the years and currently behaving as digital gold. Timmer also said that Bitcoin could be used as a counterweight to future monetary inflation. The Macro head released a paper explaining various factors that make bitcoin a viable replacement to gold.

Bitcoin: In my view, bitcoin has evolved to the point that it could be treated as a form of digital gold…a possible counterweight to future monetary inflation. My current take on the cryptocurrency, here: https://t.co/Ud6GrBpIp2

— Jurrien Timmer (@TimmerFidelity) March 1, 2021

The report published by Timmer says,

Seen as a form of “digital gold,” bitcoin may act as a stable store of value and potentially offer protection against inflation—and even hyperinflation.