Comparisons are often made between Bitcoin and the internet, and it is stated that the adoption of both is similar.
The final comparison came from Fidelity Investments. The giant company drew parallels between the two concepts: “the growth of Bitcoin and the rise of the internet.”
Jurrien Timmer, Fidelity Global Macro Director, said that Bitcoin’s growth trend is similar to the internet adoption curve of the past and that it is currently in the middle of the adoption curve.
Timmer noted that Bitcoin’s growth and adoption is similar to the internet’s diffusion curve in the past.
Drawing parallels with Bitcoin and the internet boom, Timmer emphasized that Bitcoin’s growth curve closely resembles the internet adoption curve of past decades, and said that BTC is still in the early stages of its broader adoption cycle.
“Bitcoin continues to follow both the Power Law curve of its wallets and its demand model based on the internet adoption curve. We are currently in the middle of the adoption curve.”
Timmer recently announced his Bitcoin price forecast. He set a long-term price target of $200,000-$300,000 for Bitcoin, stating that the current price structure is bullish.
*This is not investment advice.