American financial company of Fidelity Investments Global Macro Director Jurrien Timmer, Russia affected by Ukraine crisis and declining bitcoin He shared about it.
Timmer shared on his Twitter account. bitcoin technology giant with Apple comparing them to each other, he said that even though they are completely different in essence, they are on the same path.
Timmer pointed out that despite the decrease in Bitcoin’s price, the number of active Bitcoin addresses continues to increase continuously and steadily.
Saying that Apple’s growth in the last thirty years is an example of the S-curve, Fidelity director stated that Apple has grown 53 times since 1996.
“Apple’s price has increased 1457 times since 1996, and its price-to-sales ratio has increased 30 times.
If the growth in the company’s valuation is an exponent of the increase in sales (under Metcalfe’s Law), then the price must rise as a power of both metrics. This is the case with Apple.”
Jurrien Timmer, who looked at Bitcoin after the Apple evaluation, said that there is a similar situation for BTC:
“Bitcoin’s market cap has increased 867 times since 2011, while its price has increased 640,633 times.
If we apply Metcalfe’s Law and calculate 867 squared, we get 751.111. This figure we reached is in line with the price increase (640,633 x) in BTC.”
Bitcoin has been in a choppy trading range for almost a year now, bouncing between 30k and 65k. The up-or-down debate continues to be a favorite hobby for many, but it’s mostly noise. For Bitcoin, the network is what matters. Let’s dig deeper. 🧵 pic.twitter.com/ipWumuRSya
— Jurrien Timmer (@TimmerFidelity) February 17, 2022
Comparing Bitcoin to Apple, Fidelity Director Jurrien Timmer said that Bitcoin’s growth will continue.
Timmer, in his statement recently, said that the global adoption rate of Bitcoin has increased, that this will also contribute to the price of BTC, and that the price of BTC will increase exponentially.
*Not investment advice.