Jurrien Timmer, Global Macro Director of the American financial company Fidelity Investments, shared his thoughts on the leading cryptocurrency Bitcoin in a recent interview.
Stating that this will contribute to the price of Bitcoin as the global adoption rate increases, Timmer stated that the price of BTC will increase exponentially.
Expressing that there is a similarity between Bitcoin and Apple, one of the largest companies in the world, Timmer argued that with the growth of BTC's market value, Apple followed the same path.
"For Bitcoin, I compared the overall network effect to the network effect of Apple computers. As Apple increases revenue, the stock price increases exponentially. Bitcoin follows the same path."
Fidelity director Timmer also said that Bitcoin is a different and separate class from other cryptocurrencies in the market.
“Maybe other digital assets will do better than Bitcoin. Because they are more scalable than BTC but less decentralized compared to BTC. That is why I would say Bitcoin is a store of value like gold. Non-Bitcoin digital assets are more of an enterprise. seems to exist.”
Finally, mentioning that there is a similarity between gold and Bitcoin, Timmer said that BTC is now at the stage where gold lived in the 1970s.
“I think Bitcoin was where gold was in the 1970s. Gold went from being a currency to an asset class and went through price discovery. The price of gold was also very volatile. It also had huge downsides but grew over time. Bitcoin is now doing the same thing."
Intel will introduce its new product for Bitcoin mining.
Computing giant Intel has published a blog post in which it announced that its contributions to blockchain technology will continue.
The article by Raja M. Koduri, senior vice president and general manager of the Accelerated Computing Systems and Graphics Group at Intel Corporation, describes Intel's latest approach to blockchain technology. “Intel will enable and promote an open and secure blockchain ecosystem and help develop this technology in a responsible and sustainable way,” it said.
In the article, where it was stated that blockchain technology requires a lot of computing power and energy, it was stated that the focus was on reaching the full potential of the blockchain by developing the most energy-efficient computing technologies. The following statements were used in the statement:
“Our blockchain accelerator will ship later this year. We engage directly with customers who share our sustainability goals.
Argo Blockchain, BLOCK (formerly Square) and GRIID Infrastructure are among our first customers for this upcoming product.
Intel Labs has conducted decades of research on reliable cryptography hashing techniques and ultra-low voltage circuits.
We expect our circuit innovations to deliver a blockchain accelerator for SHA-256-based mining (Bitcoin mining) that outperforms mainstream GPUs by more than 1000x per watt.
You will learn more about our circuit innovations at this month's ISSCC conference.
To support this and emerging technology, we have created a new dedicated computing group within Intel's accelerated computing systems and graphics business unit.
Going forward, we aim to leverage the technologies of our scale computing initiative to deliver energy-efficient solutions that make our tomorrow better than today."