It’s not about whether you should have bitcoin, but why you don’t have

Chris Kuiper, vice president of research at Fidelity Digital Assets, the world’s largest capital management company after Blackrock and Vanguard, said corporate investors can no longer ignore Bitcoin (BTC). The inclusion of this asset in diversified portfolios should be seen as a fiduciary obligation.

The fiduciary obligation refers to the legal and ethical duty that has a person or entity to administer foreign capital always acting in the best interest of its owner. This especially applies to financial advisors, fund managers, trusts and institutions that handle third -party investments.

During his speech at the Bitcoin for Corporations 2025 event Organized by Strategy, Kuiper explained that The argument to incorporate Bitcoin into corporate portfolios no longer requires extensive defenses. Instead, he said that investment managers should justify why they don’t have it yet.

«If one has a fiduciary obligation, it’s not about whether you should have Bitcoin, but why you don’t have it,» Kuiper said at the conference.

For Fidelity’s manager, you should justify why you don’t have Bitcoin

The Fidelity manager stressed that Bitcoin has unique properties that make him a legitimate asset within the investment universe. He mentioned characteristics such as his scheduled scarcity, decentralization and resistance to censorship make it attractive to have in a diversified portfolio.

Especially, he remarked that BTC is the only «purely scarce» asset in the current financial environmentdifferentiating it from any other instrument. «You can’t create more bitcoin, you can’t manipulate your issuance, and that makes it something truly unique in the modern financial system,» he said.

This type of digital shortage, he explained, is especially relevant at an era where central banks continue to emit money expansively. On the other hand, there will only be 21 million BTC when their mining, which is reduced by half every four years by halving, comes to an end.

For a matter of supply and demand, its limited and fixed supply makes it easier for Bitcoin to rise in price to purchases. That is why each halving has attracted a wave of new investors who promoted their price to a new historical maximum, as seen below.

One of the main engines behind Bitcoin’s price increase has been the expansion of the monetary base globally. To verify this, he showed the following M2 graph, which is a measure of the amount of money in circulation, and the BTC price.

The specialist says:

«When money multiplies, scarce assets tend to appreciate. It is no coincidence that Bitcoin has had its best performance in the periods of greatest monetary expansion.»

Chris Kuiper, Vice President of Research at Fidelity Digital Assets.

The analyst argued that This context of inflation and loss of purchasing power of Fíat currencies justifies even more than investors consider bitcoin as a fundamental asset in your portfolios. If you do not believe, invite you to look at the following image that graphs the purchase capacity that the dollar has had in its history.

«Money [fíat] It is constantly depreciating, so having an asset that cannot be diluted makes more sense than ever, ”says the manager. «Bitcoin is the superior form of money because it is not only scarce, but its shortage is verifiable,» he adds.

The Fidelity manager contrasts that «Fíat currencies have a history of eventually fail or be devalued, while Bitcoin offers an alternative system, one that is not exposed to the same risks.»

«In a world of constant monetary expansion, investors seek protection. Bitcoin offers that protection because it is the only asset with a verifiably fixed offer, ”he explains.

Bitcoin decreases the risk of an investment portfolio

While Kuiper pointed out that his high price volatility can keep some investors away from acquiring this asset, he clarified that this should not be an impediment because, despite its falls, it usually maintains a long -term upward trend. Thus it can be observed by the following graph.

In fact, «from the perspective of the portfolio, including even a small amount of bitcoin improves the performance adjusted to the risk of a portfolio,» he said. This bases the fact that this currency He has shown higher yields in the last decade to the main classes of assetsas exhibited in the previous comparative table.

This point also starts from the Sharpe ratio, which measures how much additional performance an investor obtains for each risk unit assumed. Kuiper argued that Bitcoin, having a low correlation with other traditional assets such as long -term actions and bonds, can help diversify and strengthen institutional portfolios.

«I think we are at the point where you should justify why you don’t have Bitcoin, rather than justify why you have it»

Chris Kuiper, Vice President of Research at Fidelity Digital Assets

With this vision from one of the largest asset management companies, The possibility that investment in Bitcoin continues to grow at a long -term corporate level growsenabling your price increase.

Their comments take place amid the growing institutional demand in the market with Bitcoin quoted funds (ETF) in the United States, which were launched just over a year ago.

These ETFs, which are mainly used by traditional institutional and retail investors, already accumulate USD 37,000 million, a flow level that to those backed in gold took years to reach years, as cryptonotic reports reported.

While Bitcoin, which was created 16 years ago, was acquired in its beginnings mainly by technological and speculative enthusiasts, today It is a strategic asset of institutional portfolios and governments such as the United States.

In this context, the Fidelity manager invites corporate investors who are still out of the market to understand the potential to have exposure to this asset. This is a message that, although it is aimed at companies, also applies to people who seek to diversify their savings.