Fidelity Macro Expert Says Bitcoin (BTC) and Ethereum (ETH) Are Now ‘Impenetrable’ Markets – Here’s What It Means
Fidelity senior macro strategist Jurrien Timmer said Bitcoin (BTC) and Ethereum (ETH) have reached a point where they are likely impervious to competition.
In an interview with Raoul Pal on Real Vision, Timmer compares Bitcoin and Ethereum to the American tech giant Apple and its massive presence and dominance over its industry.
“According to Metcalfe’s law, the larger the network, the more the valuation of this network becomes exponential. And I used the example of the Apple computer, where you can see, if you look at their annual revenue, the more iPhones they sell and whatever they sell, the valuation goes up exponentially until that that it gets to the point – and then when it gets to the point where the network is so powerful that it has such a big gap around it that even if I invent a much better iPhone tomorrow, I’ll never be able to penetrate that network, because it’s too powerful.”
The macro expert says that while other crypto projects will continue to exist and compete with the top two digital assets by market capitalization, Bitcoin and Ethereum have already established themselves as the top dogs.
“And I think Ethereum and Bitcoin have reached those thresholds. This does not mean that there will not be other rooms and other networks. But I think they passed the test to become big enough to be believed and taken seriously, right? A few years ago, many investors said, “Well, that can be regulated pretty quickly.” This ship has sailed, I think.
At the time of writing, Bitcoin is trading at $23,749, while Ethereum is valued at $1,694.
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