Jurrien Timmer, a bigwig at Fidelity Investments, doesn’t think Bitcoin will ever hit a million bucks. He says investors will always compare Bitcoin to other assets, and when Bitcoin gets too expensive, they’ll start buying other things instead.
Relative Value Matters
Timmer explains that investors will look at the price of Bitcoin compared to things like gold, real estate, and stocks. If Bitcoin becomes way more expensive than other assets, people will think it’s a good time to buy those other assets instead. He uses the example of gold: if Bitcoin skyrockets and gold gets super cheap, people will start buying gold again because it’s a better deal.
Bitcoin Is Just One Asset
Timmer emphasizes that Bitcoin is just one of many assets, and it needs to be valued against other assets and the overall economy. He thinks it’s unrealistic to expect Bitcoin to completely dominate everything else.
Bitcoin’s Current Price
Bitcoin is currently trading at around $55,946, up a bit in the last 24 hours.
Disclaimer: This information is not financial advice. Always do your own research before investing in any cryptocurrency.
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