Fidelity executive: Bitcoin will seize a quarter of the gold market, and the market value is expected to increase by another $500 billion

Jurrien Timmer, global macro director at Fidelity, said Bitcoin will account for nearly a quarter of the gold market currently held by banks and private investors. At the same time, he also predicts that Bitcoin will add a further $500 billion to its current total value of $1 trillion. Due to its similarities in scarcity, durability, and store of value, Bitcoin is often compared to gold, with many referring to it as digital gold. The difference is that Bitcoin more closely tracks riskier assets such as the tech-heavy Nasdaq, while gold's gains tend to coincide with signs of turmoil in the market. It’s worth noting that gold is down about 2% this year, while Bitcoin and the Nasdaq are up 16% and 8.6%, respectively. (DLnews)