Fidelity Digital Assets (FDA), the digital asset arm of leading asset manager Fidelity Investments, said in its report that Bitcoin is a superior form of money compared to other digital currencies.
New Investors Should Consider Bitcoin
In a 26-page report published by the digital asset arm of Fidelity, new investors seeking to gain exposure to cryptocurrencies need to consider Bitcoin separately from other digital currencies.
“Other non-bitcoin projects should be evaluated from a different perspective than bitcoin,” the report read.
FDA noted that while bitcoin cannot be considered a better payment method, the asset has proven to be a monetary good and a store of value for investors over the years.
With Bitcoin fundamentally different from other cryptocurrencies, FDA said no existing digital asset project can successfully improve on it as a monetary good.
The company stated that any form of improvement on Bitcoin as a monetary good would face tradeoffs because BTC is the most decen
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