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Fidelity Investments Subsidiary Publish Bitcoin Report

GLOBAL MARKET/OPINION
  • Bitcoin's scarcity is among the characteristics that make the digital coin "good" money, and traditional investors should use it as an entryway into digital assets, said a Fidelity Investments subsidiary. (Business Insider)
  • In a 26-page report published Monday, Fidelity Digital Assets said bitcoin is fundamentally different from any other digital asset, and its first technological breakthrough was not as a superior payment technology "but as a superior form of money."
  • "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, sound digital money and any 'improvement' will necessarily face tradeoffs," it said.
  • Bitcoin has recently bounced from levels close to the 2021 lows around $30,000 and currently trades at $38,500. Bitcoin's dominance recently stood at around 41% of the overall crypto market's value, followed by ether, the token native to the ethereum blockchain.
  • For those interested, the link to the report is here: https://www.fidelitydigitalassets.com/bin-public/060_www_fidelity_com/documents/FDAS/bitcoin-first.pdf

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