Jurrien Timmer: Bitcoin price will grow exponentially

The director of global macroeconomics at Fidelity Investments is confident that the value of the first cryptocurrency will repeat the growth in the market value of Apple. Top Manager of one of the world's largest asset management companies Fidelity Investments Jurrien Timmer made his statement on the YouTube channel The Investor's Podcast Network. 

According to the expert, the price of Bitcoin will only grow as society adopts cryptocurrencies:

"I compared the network effect of Bitcoin with the network effect of Apple computers. As Apple's earnings increase, its share price rises exponentially. I have reason to believe that Bitcoin is following the same path. The price of this cryptocurrency will only increase with increased demand."

BTC benefits from its strong difference from all other crypto assets, the macroeconomic expert believes:

"Perhaps other digital currencies will look more profitable against the background of bitcoin due to better scalability, but at the same time, they will most likely be less decentralized. For me, bitcoin is like gold, and other cryptocurrencies are more like venture capital."

Last October, Timmer said that BTC would hit $100,000 by 2023.