Fidelity Macro Expert Says Bitcoin (BTC) and Ethereum (ETH) Now Impenetrable Markets Heres What It Means

Jurrien Timmer, lead macro strategist at Fidelity, said Bitcoin (Bitcoin) and Ethereum (ethereum) has reached a point where it is likely immune to competition.

and interview Together with Real Vision’s Raoul Pal, Timmer compares Bitcoin and Ethereum to US tech giant Apple for their massive presence and dominance in the industry.

According to Metcalfe’s Law, the bigger the network, the more exponentially the valuation of that network increases. I used the example of Apple computers. If you look at the iPhones and everything else they sell, you’ll see valuations go up exponentially until it hits a point, and then the network becomes so powerful that there’s a big moat around it. And even if we invented a much better iPhone tomorrow, we wouldn’t be able to break into that network.

Bitcoin and Ethereum have already established themselves as the top dogs, while other cryptocurrency projects will continue to exist and compete with the top two digital assets by market capitalization, macro experts say. .

And I think Ethereum and Bitcoin have reached that limit. That doesn’t mean there aren’t other coins and other networks. You think it meets the test for, right? A few years ago, many investors said, This could soon go out of regulation. I think that ship has sailed.

At the time of writing, Bitcoin is trading at $23,749 while Ethereum is trading at $1,694.

Featured Image: Shutterstock/Tithi Luadthong