Investing.com — With the $100,000 threshold crossed, Attorney Davidson has republished his comprehensive bull market case for the cryptocurrency.
In a note on Thursday, the company highlighted Bitcoin's unique value proposition, resilience, and growing adoption as reasons for its extraordinary potential.
Bitcoin is an asset unlike any other
“Bitcoin is an asset unlike any other,” said Attorney Davidson. Since its creation in 2009, Bitcoin has processed trillions of dollars in transactions while remaining operationally flawless.
The company says it has withstood intense competition, including challenges from major corporations, and has consistently held its position as the most valuable cryptocurrency.
The possibility of “everything about money”
Prosecutor Davidson believes that the core of Bitcoin's value is its potential to become “all about money.”
DA Davidson highlights the company's ability to serve as a global store of value, medium of exchange, and unit of account. The likelihood of Bitcoin displacing government currency is estimated at 1-2%, but this slim chance, when combined with other use cases for Bitcoin, supports the current assessment.
Prosecutor Davidson said that if Bitcoin were able to achieve this result, its value could reach $5 million per Bitcoin, reflecting the size of the world's money supply.
store of value
Today, Prosecutor Davidson says Bitcoin primarily serves as a store of value and provides a hedge against economic instability.
Bitcoin has occasionally shown correlations with risk assets, but Bitcoin's fundamentals are driven by adoption rather than traditional economic indicators, making it a poorly correlated asset over the long term, prosecutor David said. Mr. Song insists.
The company added that trading is Bitcoin's second major use, thanks to Bitcoin's abundant liquidity, global reach, and 24/7 trading. Cryptocurrency also has potential as a payment network that can be applied to cross-border remittances and corporate financial management.
“If we dig deeper, we can also point out that Bitcoin represents an ideological, political and cultural phenomenon. This is important because these phenomena are connected to the more economic factors discussed above. “This is because they drive adoption side-by-side,” the company's analysts said. “It is important to remember that these cultural movements look different around the world and often have a stronger foothold in truly oppressed or distressed economies. ”
However, Davidson warned of high risks, including regulatory challenges and security threats. Nevertheless, they remain bullish and highlight Bitcoin's revolutionary potential to reshape finance and technology.
