Jurrien Timmer, director of global macro at Fidelity Investments, predicted Wednesday that Bitcoin (BTC-USD) could reach $100K by 2023, saying that his supply and demand models for the crypto intersect at that level. In an interview with CNBC, Timmer also characterized the recent upswing in Bitcoin as a "pretty sustainable move" that was not driven by momentum traders. "My sense is the trajectory is up and so far there really is no evidence that this is a bunch of momentum chasers," he said. Looking longer-term, Timmer doesn't see Bitcoin as a threat to the U.S. dollar or to the dollar's status as the world's reserve currency. Timmer noted that Bitcoin (BTC-USD) generally exists as a store of value at this point and won't develop into something more resembling a currency until it also receives wider acceptance as a medium of exchange. Turning to other markets, the Fidelity director of global
