Bitcoin and Ethereum Markets Are Impenetrable to Competition, Senior Strategist Says.
Jurrien Timmer, one of the directors of Fidelity Investments, states that Bitcoin and Ethereum have reached a level where they are impenetrable to competition. Timmer compares ETH and BTC to Apple and the extent of its dominance in its industry. As the network gets bigger, the valuation of the network becomes exponential. If you look at Apple’s annual revenue, as more iPhones are sold, valuations grow exponentially until a point is reached.
At this time, the network becomes so powerful that it has a large moat around it. Even if you invent a better iPhone tomorrow, the macro expert says you would not be able to penetrate the network. Timmer then positions ETH and Bitcoin as top dogs and believes other crypto projects will continue to compete with the two leading digital assets. According to the senior strategist, Ethereum and Bitcoin have reached the point where they can now be considered serious and trustworthy. At the time of writing, BTC is trading at $22,880, while Ethereum is valued at $1,584.