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Bitcoin “Ultimate Currency”? The king of cryptos hailed by Fidelity


The perfect currency – Did Satoshi Nakamoto want bitcoin (BTC) to be seen as a currency, or rather as an asset to hedge against inflation, or even as a symbol of resistance to increasing centralization of monetary and financial systems? Satoshi Nakamoto most likely won’t deliver the way he sees bitcoin in 2022. Unlike global financial services provider Fidelity, which did this exercise.

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Bitcoin, a superior digital currency: Fidelity’s case

The brokerage giant Fidelity published in January 2022, a document titled BitcoinFirst to explain the reasons why “investors should consider bitcoin separately from other digital assets”.

Fidelity advocates the idea that bitcoin is fundamentally different hundreds of other digital assets. None of the latter would be able to surpass it “as a monetary good”.

Bitcoin would indeed be a higher form of digital currency rather than just technology. It would possess the “good qualities of a currency, combining the rarity and durability of gold with the ease of use, storage and transport of fiat money”.

Bitcoin has so much more properties of a perfect currency due to the fact that no organization manages it, it does not pay dividends and has no cash flow. The company touts cryptocurrency as “the most secure and decentralized form of asset”. Any “improvement” of bitcoin “will necessarily have to face trade-offs”.

Fidelity does not rule out the possibility that there is more than one currency, but she believes that only one will eventually “dominate the ecosystem of digital assets due to the effects of very powerful networks”.

According to the company, traditional investors can additionally use bitcoin as an entry point to make investments in the digital asset market. These investors should further direct their investments towards bitcoin as a monetary asset on the one hand, and other digital assets that have similar characteristics to the assets of venture capitalists on the other hand.

Fidelity continues to defend the superiority of bitcoin by evoking its superior qualities compared to fiat currencies, traditional assets, and those of new finance. The brokerage giant had even speculated that the first bitcoin-nations will be future superpowers.

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