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Fidelity Compares Bitcoin to Dr Jekyll and Mr Hyde
In a recent statement, Fidelity has drawn an intriguing comparison between the cryptocurrency market and Robert Louis Stevenson’s classic novel, “The Strange Case of Dr Jekyll and Mr Hyde”. The financial institution suggests that the dual nature of Bitcoin, as both a store of value and a speculative risk-on asset, mirrors the contrasting personas of the main characters in the novel.
According to Fidelity, just like Dr Jekyll and Mr Hyde, Bitcoin is capable of exhibiting two distinct personalities. On one hand, it can serve as a store of value, allowing investors to hold onto their digital assets for long-term gains. This aspect is reminiscent of Dr Jekyll’s more refined and civilized nature. However, the same coin can also flip its personality, transforming into a speculative risk-on asset that appeals to traders seeking quick profits.
The comparison highlights the complexity of Bitcoin’s role in the market. Just as Dr Jekyll struggles with his darker alter ego, Mr Hyde, investors must navigate the dual nature of this cryptocurrency. While some may find it appealing to own both Bitcoin and Ethereum, or any other store of value asset for that matter, the risk-reward ratio is crucial.
“Bitcoin’s duality mirrors the conflict between light and dark, as embodied by Dr Jekyll and Mr Hyde,” said a Fidelity spokesperson. “As with the classic novel, investors must acknowledge the dual nature of this cryptocurrency and make informed decisions based on their risk tolerance and investment objectives.”
This comparison highlights the challenges that investors face when it comes to understanding the role of Bitcoin in their portfolios.
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Source: https://u.today/fidelity-compares-bitcoin-to-dr-jekyll-and-mr-hyde
