{"id":51167,"date":"2021-10-14T10:12:49","date_gmt":"2021-10-14T07:12:49","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=51167"},"modified":"2025-09-02T22:14:07","modified_gmt":"2025-09-02T19:14:07","slug":"fidelity-forecasts-bitcoin-to-reach-100000-by-2023","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/fidelity-forecasts-bitcoin-to-reach-100000-by-2023\/","title":{"rendered":"Fidelity forecasts Bitcoin to reach $100,000 by 2023"},"content":{"rendered":"

Bitcoin market conditions do not resemble an economic bubble \u2014 by 2023, the asset’s price could rise to $100,000. This was stated by Jurrien Timmer, head of macroeconomic research at Fidelity Investments’ asset-management arm, to CNBC<\/a>.<\/p>\n

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In the last two weeks, the price of the first cryptocurrency has risen by 40%, according to CoinGecko<\/a>. On 14 October, quotes rose above $58,000. At the time of writing, digital gold is trading near $57,900.<\/p>\n

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\\\"Fidelity
Time-series BTC\/USDT chart on Binance. Data: TradingView<\/a>.<\/figcaption><\/figure>\n

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According to Timmer, the local Bitcoin rally is driven by organic spot demand and is not tied to speculation, so it could continue in the future.<\/p>\n

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\\”This is not a short-term impulse of speculators, so I am somewhat confident that we are dealing with a fairly sustainable move, not a bubble that is about to burst. The trajectory is upward, and there is no evidence that a handful of speculators drove the price to $57,000,\\” he said.<\/p>\n<\/blockquote>\n

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Timmer also noted that, despite all differences, Bitcoin and gold complement each other. The executive acknowledged Bitcoin’s supremacy, but doubted that it would be able to displace the precious metal.<\/p>\n

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\\”The supply of Bitcoin is capped, and gold does not have the same network effects as a cryptocurrency, so it is quite logical that the digital asset will surpass it. Bitcoin and gold are two players on the same team,\\” he said.<\/p>\n<\/blockquote>\n

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In Timmer’s view, Bitcoin does not threaten the U.S. dollar, or its status as a reserve currency. He argued that the development of cryptocurrencies, on the contrary, helps ensure that the U.S. dollar can maintain its position.<\/p>\n

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In conclusion, a Fidelity representative said that Bitcoin’s value proposition lies in its use as a medium of exchange. He stressed that, to a large extent, this capability depends on second-layer solutions such as Lightning Network<\/a>.<\/p>\n

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Earlier in September, Fidelity Investments representatives, at a meeting with officials from SEC<\/span> presented arguments in favor of approving a Bitcoin ETF<\/span><\/a>.<\/p>\n

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Subscribe to ForkLog news on Telegram: ForkLog Feed<\/a> \u2014 the full news feed, ForkLog<\/a> \u2014 the most important news, infographics and opinions.<\/p>\n

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Bitcoin market conditions do not resemble an economic bubble \u2014 by 2023, the asset’s price could rise to $100,000. This was stated by Jurrien Timmer, head of macroeconomic research at Fidelity Investments’ asset-management arm.<\/p>\n","protected":false},"author":1,"featured_media":51168,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,1248],"class_list":["post-51167","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-fidelity-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51167","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=51167"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51167\/revisions"}],"predecessor-version":[{"id":51169,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51167\/revisions\/51169"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/51168"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=51167"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=51167"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=51167"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}