Financial giant Fidelity's director sees bitcoin as 'exponential gold'
Financial services giant Fidelity's director of global macro says bitcoin is "exponential gold."
He explained that gold is "too deflationary and clunky to be used as a medium of exchange," noting that "investors own it primarily as a store of value — and one of the many reasons bitcoin is often compared to gold."
The 99-year-old compared the cryptocurrency to a "stink ball" among traditional currencies.
Dubai financial authority approves XRP as 'recognized crypto token' Dubai's financial regulator, the Dubai Financial Services Authority, has approved XRP as a recognized crypto token for use within the Dubai International Financial Centre (DIFC), a special economic zone.
"Licensed virtual asset firms within the DIFC will now be able to incorporate XRP into their virtual asset services," Ripple explained, adding that institutions located in the zone can now utilize XRP "to accelerate faster, more efficient global value exchange."
Explaining in simple terms why the rich become richer, the renowned author said: "They understand the importance of preserving tangible assets, such as gold, silver, and bitcoin, which offer lifelong financial security and freedom."
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