Fidelity: Bitcoin A “Superior” Form Of Money
Not only did Fidelity say Bitcoin is a superior form of money, they said Bitcoin won’t be surpassed by other cryptos for that very reason:
Bitcoin won’t be surpassed by competing cryptocurrencies because it is a ‘superior’ form of money, Fidelity says
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.
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.