Fidelity calls Bitcoin the safest cryptocurrency.

Bitcoin is the safest, decentralised and scarce cryptocurrency in the world. This is stated in a new study by Fidelity Digital Assets.

Experts noted the continued adoption of digital gold amid significant hurdles facing other assets in the sector. This is evidenced by growing ecosystem reach and a rising share in investment portfolios.

The study’s key takeaways are as follows:

1. Bitcoin is best understood as a monetary asset—a store of value in an increasingly digital world.
2. The first cryptocurrency fundamentally differs from any other asset in the sector. Competitors cannot match it in aspects such as security and decentralisation. Bitcoin is regarded as a reliable digital money. Any attempts to “improve” these properties would require compromises.
3. There is not necessarily mutual exclusivity between the success of the Bitcoin network and other blockchains. Rather, the rest of the ecosystem can meet different needs or address other problems that digital gold simply does not tackle.
4. Other projects not tied to Bitcoin should be evaluated from a different perspective than the primary cryptocurrency.
5. Digital gold should be viewed as an entry point for traditional investors seeking access to the sector.
6. Investors should adhere to two quite different approaches when considering investments in the ecosystem. The first is to view Bitcoin as a developing monetary asset. The second is to consider adding other digital assets that, by their properties, resemble venture capital.

In late June Fidelity filed an application to launch a spot Bitcoin-ETF, so that its clients would have a regulated instrument tied to the first cryptocurrency.

Earlier this year, a former BlackRock director Stephen Schonfeld suggested that the SEC would approve the instrument within three to six months.