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HomeNewsThe Company That Manages Trillions: This Cryptocurrency Is Different From All!

The Company That Manages Trillions: This Cryptocurrency Is Different From All!

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The company has published a report on “why investors should consider Bitcoin (BTC) separately from other cryptocurrencies.”

2022 in brief for cryptocurrencies

Last year was one of the turmoil and scandals highlighted by events such as the explosion of the Terra stablecoin and, more recently, the bankruptcy of crypto exchange FTX. Summarizing 2022 into a single title, it is probably called ‘Centralized Players Exploit Decentralized Assets’.

Due to the rapid rise of cryptocurrencies and increasing interest from investors, individuals and companies realized that there was money to be made. They created their own cryptocurrency tokens, provided loans to businesses that didn’t deserve to be supported, and sometimes even pocketed investor dollars.

This is the ultimate problem. Cryptocurrencies need to be decentralized and devoid of any control of a person or a company. Through a series of analyzes, Fidelity’s report showed that Bitcoin is the epitome of decentralization and security, with other inherent characteristics that should make it the digital asset of choice for investors.

Bitcoin stands out from the rest

cryptocoin.com As we mentioned earlier, some of the features that distinguish Bitcoin from all other cryptocurrencies are its unmatched level of decentralization and security. Usually, decisions like the speed with which new tokens go into circulation or the consensus mechanism to use are left to a select few community members, such as founders and developers.

But with Bitcoin, there isn’t any person or entity pulling the strings behind the scenes, which is an attractive quality considering the flaws that plague some networks in 2022. Also, Bitcoin’s globally distributed and extensive network of nodes makes it much more secure than its closest competitors.

The most interesting conclusion reached by analysts was their belief that Bitcoin has the potential to become a ‘primary monetary good’ because of its scarcity and desirability, the characteristics that make it considered hard money. Fidelity has suggested that Bitcoin’s limited supply of 21 million coins and its growing network impact could make it the digital asset of choice for investors.

Because of Bitcoin’s first mover advantage, the blockchain has become the ‘most secure, decentralized and most liquid network’. Analysts believe that the process of choosing Bitcoin over other cryptocurrencies will increase its legitimacy and then make it more valuable as demand increases.

There probably won’t be another Bitcoin

Now that 2022 has come and gone, it is long past time for investors to realize that not every new cryptocurrency deserves a place in their portfolio. While many of these assets look like cryptocurrencies, in reality they are more like centralized Ponzi schemes.

According to the company, there will probably not be another Bitcoin and therefore should be given higher priority than any other digital asset. Bitcoin investors can be confident that the blockchain will remain resilient in the face of central actors that inevitably come and go, but most importantly, it is the most likely candidate to become the primary digital asset in the coming years.

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