Jurrien Timmer, financial industry veteran and director of macro markets at Fidelity Investments, believes Bitcoin has reached the point where it can be considered for investment.
In a document titled “Understanding Bitcoin,” a top Fidelity executive noted that Bitcoin can be considered a form of “digital gold” and used to hedge inflationary risks.
“From my point of view, some investors may consider bitcoin along with other alternatives for inclusion in a portfolio of stocks and bonds at the expense of bonds. I think gold and bitcoin are great for replacing some of the bonds, ”Timmer wrote.
The investor noted that the limit on the maximum number of bitcoins makes this asset very similar to gold. Moreover, the appearance of new bitcoins on the market is constantly slowing down, but the volume of gold production has remained at the same level for half a century.
Timmer’s views are in line with those of SkyBridge Capital founders Anthony Scaramucci and Brett Messing. In January, they released an article in which they described bitcoin as a mature investment asset, comparable in reliability to gold and bonds.
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