Fidelity Investments, a worldwide brokerage firm, has produced a paper titled ‘Bitcoin First’ on Bitcoin (BTC). According to this brokerage firm, BTC should be treated independently from the rest of the digital assets.
According to the study paper, BTC is fundamentally distinct from other crypto assets present in the market. It also argues that none of the digital assets will be able to displace BTC as a “monetary good.” It is having a superior form of currency rather than merely a technology. According to the paper, it is the “safest, decentralised type of asset, and every “improvement” in this direction will always result in compromises.”
The Fidelity Investments paper reads “Bitcoin certainly has a lot of desirable money attributes, combining gold’s scarcity and durability with fiat’s ease of use, storage, and transportability.”
Did you know that Bitcoin’s pseudonymous creator, Satoshi Nakamoto, also wanted it to be a healthy form of money. BTC proponents have claimed the same view over the past decade.
Do you think Fidelity’s view on BTC indicates its wide acceptance in future? Please comment below.