Fidelity Manager Jurrien Timmer Discusses Bitcoin’s Path to a New All-Time High
Jurrien Timmer, the global macro director at Fidelity Investments, recently shared his insights on what is needed for Bitcoin to reach a new all-time high (ATH).
Following a significant decline after its previous ATH in March, Bitcoin investors are eagerly anticipating a new record. Timmer emphasized the necessity for increased BTC adoption in order for this milestone to be achieved.
Timmer pointed out that while the growth of the Bitcoin network has slowed down, the price of BTC has continued to rise, creating a disparity between adoption and price. He emphasized the importance of accelerating network growth for a bullish trend towards a new ATH.
According to Timmer, Bitcoin has the potential to rival gold as a store of value, attributing the rise in Bitcoin’s price to its scarcity and the Federal Reserve’s monetary policy. He highlighted the unique characteristics of Bitcoin that drive its network growth and price, along with external factors such as sentiment and economic policies.
Timmer also suggested that the increasing debt of the United States and a declining GDP rate could lead to more investments in assets like Bitcoin, potentially fueling the growth of the Bitcoin network.
Disclaimer: This information is not intended as investment advice.
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