Bitcoin won’t be surpassed by competing cryptocurrencies

Fidelity : Bicoin is a ‘superior’ form of money

Bitcoin’s scarcity is among the characteristics that make the digital coin “good” money, and traditional investors should use it as an entryway into digital assets, said a Fidelity Investments subsidiary.

In a 26-page report published in January, Fidelity Digital Assets said bitcoin is fundamentally different from any other digital asset, and its first technological breakthrough was not as a superior payment technology “but as a superior form of money.”

“No other digital asset is likely to improve upon bitcoin as a monetary good because bitcoin is the most (relative to other digital assets) secure, decentralized, sound digital money and any ‘improvement’ will necessarily face tradeoffs,” it said.

The cryptocurrency possesses many “good qualities” of money  – “combining the scarcity and durability of gold with the ease of use, storage, and transportability of fiat (even improving on it),” wrote director of research Chris Kuiper and research analyst Jack Neureuter.