Fidelity's Jurrien Timmer Says Bitcoin Is Entering a New, Slower Network Growth Phase by 2025

On 12 December 2025, Fidelity Global Macro Director Jurrien Timmer argued that Bitcoin's recent price action suggests it is moving away from its earlier boom-and-bust cycle pattern. He highlighted that speculation has cooled, macro conditions have steadied, and corporate equity-funded Bitcoin purchases could act as a new brake on future rallies, even as his models place the current network wave's upper boundary near $151,360.