Bitcoin is a “superior form of money”

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Fidelity, the multinational brokerage giant, published an article about Bitcoin (BTC) titled Bitcoin First. The financial services provider requests that BTC be treated separately from the rest of the digital assets.

The document argued that BTC is fundamentally different from hundreds of other digital assets traded in the market and that no other digital asset is likely to surpass the leading cryptocurrency “as a monetary good”.

Fidelity’s article called Bitcoin a superior form of money rather than just a technology. It is the “most secure and decentralized form of asset and any ‘improvement’ will necessarily face trade-offs”. The newspaper said:

“Bitcoin clearly has a lot of the good qualities of money, combining the rarity and durability of gold with the ease of use, storage and transportability of fiat.”

The global financial services provider believes that BTC has all the qualities of a solid form of currency, as it has no organization that manages it and pays no dividends or cash flows. The scarcity and decentralized nature of Bitcoin only adds to its properties of being a perfect monetary tool.

“We won’t have the audacity to predict that there will ever be one money, but we believe that a monetary good will eventually dominate the digital asset ecosystem due to the very powerful effects of networks. .”

Related: The Bitcoin Cycle Is Far From Over And Miners Are Here For The Long Term: Loyalty Report

Fidelity sees BTC as an entry point for traditional investors into the digital asset market and has suggested that investors integrate two distinct frameworks for investing in digital assets: one should be focused on Bitcoin as a commodity. monetary (asset class) and the second should be focused on the rest of the digital assets that exhibit venture capital-like properties.

Satoshi Nakamoto, the pseudonymous creator of Bitcoin also wanted it to be a solid form of currency and BTC proponents have been supporting the same for a decade. However, the fact that a global financial services provider sees BTC as a superior form of currency could be a sign of greater adoption to come.

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