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October 2, 2022
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Jurrien Timmer from Fidelity claims that Bitcoin is digital gold –

Fidelity Global Asset Allocation Director of Global Markets, Jurrien Timmer, spoke very positively about Bitcoin. He noted that the cryptocurrency has both an interesting supply model and a fascinating demand. In his eyes, in some respects, it remains undervalued.

Jurrien Timmer talks about BTC

Jurrien Timmer believes that Bitcoin is undervalued with its current capitalization of just around $ 900 billion. Especially when compared to the gold and dollar markets.

If Bitcoin is a legal store of value, scarcer than gold, and potentially exponential demand dynamics, is it worth considering including it in your wallet now? He asked rhetorically. In his opinion, the answer is not even whether BTC should be bought, but how much money should be invested in it.

Bitcoin: In my opinion, Bitcoin has evolved to such an extent that it can be considered a form of digital gold … a possible counterbalance to future monetary inflation. My current approach to cryptocurrency is expressed here

– he wrote on Twitter.

His words correspond to the actions of the largest US banks. For example, Goldman Sachs is restarting its cryptocurrency trading office.

Added to this are the words of Max Keiser, a well-known economic journalist, who said in the last episode of his program that Bitcoin is growing and will grow in strength. In his opinion, the cryptocurrency will surpass gold and then the dollar in terms of market capitalization. We wrote more about it here.

Investing in cryptocurrencies is risky!

Contrary to these opinions, however, are the views of New York Attorney General Letitia James, who wrote on Twitter:

Investing in virtual [waluty] or cryptocurrencies carry extreme risks and it is imperative that we act to protect investors’ portfolios. I am warning New Yorkers and investors across the country that investing in this volatile market is not prudent and can result in large losses.

On the other hand, the mayor of Miami, Francis Suarez, has made every effort recently to bolster Bitcoin adoption. He managed to persuade local politicians to implement a program that will enable the city to adopt the cryptocurrency more widely. For example, residents will be able to pay taxes in digital currency.

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