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Volatile Bitcoin Not a True Store of Value Just Yet, Says Fidelity Digital Assets Head.

Fidelity Digital Assets president Tom Jessop says that bitcoin is not a true store of value just yet because the digital asset is still too volatile, Reuters reported.

“We use the word ‘potential store of value’ as bitcoin is still extremely volatile, and by any standard perhaps would not achieve the mantle of a true store of value,” Jessop told Reuters’ Global Investment Outlook Summit 2020 on Thursday.

Institutional investors such as Microstrategy, Square and others have muscled their way into crypto because they are convinced that bitcoin – with its maximum supply cap of just 21 million coins – is a safe hedge against monetary inflation, particularly at a time of limitless government spending.

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