Fidelity Investments, a financial services company based in the United States, has shared a bullish view on Bitcoin, calling it “unique and valuable.” In an analysis titled “Bitcoin First Revisited: Why investors need to consider Bitcoin separately from other digital assets,” the firm shared its research based on data from January 2022.
The firm published a report on October 4, penned by Chris Kuiper and Jack Neureuter under the banner of Fidelity Digital Assets. According to the report, Fidelity believes that Bitcoin is worlds apart from other altcoins in the industry, recognizing it as the “most recognized, first-ever digital asset.” The firm also described it as a primary consideration for investors.
Fidelity said that the main concern that investors have while investing in Bitcoin is competition from other altcoins. Another fear is whether BTC offers the same upside as some of the other projects that have emerged recently over the years.
The firm noted that Bitcoin is very unique and different from others, as it has continued its upward trajectory in the past one and a half years. The adoption rate of the digital asset has also remained high since January 2022. The report states:
“Bitcoin is fundamentally different from any other digital asset. No other digital asset is likely to improve upon bitcoin as a monetary good because bitcoin is the most (relative to other digital assets) secure, decentralized, and sound digital money, and any “improvement” will potentially face trade-offs.”
According to the authors of the report, it is not possible for any newer project to surpass Bitcoin because any new “improvements” would result in trade-offs. This implies that in order to gain scalability, the project will have to become increasingly centralized. The firm also noted that “non-bitcoin projects should be evaluated from a different perspective than bitcoin.”
Saylor Supports the Fidelity Report
Michael Saylor, the founder and former CEO of MicroStrategy, the largest corporate BTC holder, also shared the analysis with his followers on social media platform X. He stated:
“Bitcoin is a unique and superior form of money that investors should consider first and separate from all other digital assets.”
Fidelity concluded that “bitcoin’s first technological breakthrough was not as a superior payment technology but as a superior form of money.” The firm added that, as a monetary good, Bitcoin is unique and should be considered different from other projects.
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