{"id":270236,"date":"2020-07-30T06:16:34","date_gmt":"2020-07-30T10:16:34","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=270236"},"modified":"2020-07-30T06:16:34","modified_gmt":"2020-07-30T10:16:34","slug":"fidelity-classifies-bitcoin-as-insurance-policy-and-aspirational-store-of-value","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/fidelity-classifies-bitcoin-as-insurance-policy-and-aspirational-store-of-value","title":{"rendered":"Fidelity Classifies Bitcoin As \u201cInsurance Policy\u201d and \u201cAspirational\u201d Store Of Value"},"content":{"rendered":"

Fidelity Digital Assets stands as a subsidiary company of Fidelity Investments, a multi-trillion dollar investment firm. According to this company, however, Bitcoin<\/a> can be viewed as an \u201cinsurance policy\u201d against a troubled financial system, as well as an \u201caspirational store of value.\u201d This comes by way of a new report the company issued out.<\/p>\n

Deeming Bitcoin As Store Of Value<\/strong><\/h2>\n

Fidelity, which holds more than $8 trillion in assets, launched its digital assets arm<\/a> back in October of 2018<\/p>\n

The report<\/a> highlighting this new classification for Bitcoin is aptly titled \u201cBitcoin Investment Thesis: An Aspirational Store of Value.\u201d The report took note that Bitcoin manages to meet the basic test for being considered a store of value, but has yet to achieve this status quite yet, to the world at large.<\/p>\n

\"\"<\/a><\/p>\n

Volatility Claimed To Go<\/strong><\/h2>\n

One of the key components that drive Bitcoin\u2019s potential to serve as a store of value, is how it relies on a digitally scarce native asset, as well as a decentralized settlement network. One of the key arguments against Bitcoin\u2019s store of value classification is the fact that Bitcoin suffers from a lot of volatility. However, the report argued that this is a boon, encouraging development, innovation, and attention to be put on the asset at large. At least, that\u2019s what the report says.<\/p>\n

John Pfeffer, of Pfeffer Capital LP, has been quoted in the report, as well. He explained that the majority of the world has yet to see Bitcoin as a form of digital gold. The moment people start to see it as such, Pfeffer explained, will be when the price of Bitcoin will begin to adjust accordingly.<\/p>\n

Many Things Going For Bitcoin<\/strong><\/h2>\n

The report touched on a few key concerns of the world as it is now. Particularly, the fact that the world\u2019s governments are printing out money as a response to the COVID-19 pandemic and its subsequent financial crisis. The report suggested that some are starting to lose faith within traditional economies.<\/p>\n

The report cites the as-of-yet unknown consequences of the global monetary and fiscal stimulus, as well as the record-low interest rates. Add deglobalization on top of this, the report said, and the desire for adoption and general awareness is as strong as it can be at this time.<\/p>\n

Wakem capital Management\u2019s John Vincent gave comment about the matter, as well. He referenced the rampant money printing occurring just as the Bitcoin halving occurred, stating that you don\u2019t need a fancy degree in order to know that BTC\u2019s supply halved while the USD doubled in supply.<\/p>\n","protected":false},"excerpt":{"rendered":"

Fidelity Digital Assets stands as a subsidiary company of Fidelity Investments, a multi-trillion dollar investment firm. According to this company, however, Bitcoin can be viewed […]<\/a><\/div>","protected":false},"author":1717,"featured_media":224538,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[7596],"tags":[734,7598,7599,7893],"class_list":["post-270236","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-bitcoin","tag-crypto","tag-market","tag-trading"],"acf":[],"yoast_head":"\nFidelity Classifies Bitcoin As \u201cInsurance Policy\u201d and \u201cAspirational\u201d Store Of Value<\/title>\n<meta name=\"description\" content=\"The moment people start to see it as such, Pfeffer explained, will be when the price of Bitcoin will begin to adjust accordingly.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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