From Fidelity's "Bitcoin First Revisited (Sep 2013)":

...Bitcoin is a superior form of Money...

"Conclusion: Traditional investors typically apply a technology investing framework to bitcoin, leading to the conclusion that bitcoin, as a first-mover technology, will easily be supplanted by a superior one or have lower returns.

However, as we have argued here, bitcoin’s first technological breakthrough was not as a superior payment technology, but as a superior form of money. As a monetary good, bitcoin is unique.

Therefore, not only do we believe that investors should consider bitcoin first to understand digital assets, but that bitcoin should be considered first and separate from all other digital assets that have followed it. "