Fidelity CEO Abigail Johnson recently spoke about the importance of Bitcoin (BTC) in people’s savings portfolios. Johnson stated, “It will play a role in the savings hierarchy.” The original crypto has given some of the best returns over the last decade and a half, far outshing the dollar, tech stocks, and commodities.
Is Bitcoin The Way To Save Money?
Bitcoin’s (BTC) incredible gains over the last decade are second to none. If people saved their money in BTC instead of the US dollar, they would have not only escaped inflation but also made massive gains. Although the crypto realm is plagued by volatile price swings, BTC returns have far outshone other financial vehicles.
Johnson said that Bitcoin (BTC) is the gold standard of the crypto market. This aspect of the original crypto will likely remain for the foreseeable future. One reason why people trust BTC is because of the anonymity of its creator, Satoshi Nakamoto.
Bitcoin (BTC) is expected to continue its upward momentum over the coming years. A recent report by Grayscale claims that BTC may be following a 5-year cycle, instead of a 4-year cycle. This would mean that the asset will hit a new all-time high in 2026 (5 years from its 2021 peak), followed by a price correction.
Other industry experts are also quite bullish on Bitcoin (BTC), with many predicting the asset to hit the $1 million mark by the end of this decade. The rise in BTC-based ETF products over the last year is another testament to its growing popularity. BlackRock, the world’s largest asset manager, also opened its doors to BTC. Vanguard, the world’s second-largest asset manager, recently said that it would offer BlackRock’s BTC ETF to its clients, further solidifying BTC’s growing popularity.
Also Read: Coinbase CEO Explains Crypto’s Future And the Coming Mega-Boom
While the market may be facing a dire situation at the moment, there is no denying the fact that cryptocurrencies, and Bitcoin (BTC) in particular, are here to stay.