Fidelity: "Bitcoin is now halfway there... Similar to the internet adoption curve"

Although Bitcoin (BTC) has surpassed $120,000 and continues to reach new all-time highs, analysis suggests it is still only at the midpoint of its adoption cycle.

According to Cointelegraph on the 17th (local time), the global asset management firm Fidelity Investments recently stated in a report that Bitcoin’s growth path is similar to the diffusion curve of the internet in the past.

The report explained, "Bitcoin still follows a power curve and a demand model based on the growth in the number of wallets and the internet adoption curve," and added, "It is currently positioned right at the center of the adoption curve." Furthermore, it noted, "The upper bound of Bitcoin's long-term price model is in the $200,000 to $300,000 range."

In reality, Bitcoin price has continued a step-like rise, hitting new highs followed by periods of sideways movement. Jurrien Timmer, director at Fidelity, commented, "This pattern is an indicator of asset maturity," and evaluated, "It shows that the market has not yet reached a saturated state."

Institutional and corporate demand is also expanding. According to Bitwise Asset Management, the number of publicly listed companies holding Bitcoin rose to 125 in the second quarter of this year. The Bitcoin held by these companies amounts to 847,000 coins. Last week, crypto investment products saw their second-largest inflows on record ($3.7 billion), and total assets under management (AUM) reached an all-time high of $211 billion. Of this, Bitcoin-related products accounted for $179.5 billion, representing 85% of the total.