Fidelity To Join The Ranks In Offering Bitcoin To Investors
I have used Fidelity for years ever since I got my first job and my first ever 401k! I am sure I am in the same boat with many people in using this financial service and I have to say I have been very happy with them.
Fidelity is an asset manager of over $7.2 TRILLION dollars and will start helping investors get into bitcoin.
Remember just 1 Trillion into bitcoin will send the price up to $50,000 + at the current rates.
Fidelity will be building a service on the outside of their main company called Fidelity Digital Asset Service which will be headed by Tom Jessop which use to work at Goldman Sachs till he moved to fidelity head of blockchain in 2017.
Fidelity has become one of the few institutions to build out products for bitcoin. They join others like Intercontenetal Exchange, Goldman Sachs, Citigroup and Morgan Stanley.
Fidelity key point of transacting will be done via Hedge Funds and Fidelity CEO Abigail Johnson has always been bullish on bitcoin from many years ago.
This goes to show us just how slow old traditional methods are and how long of a process it seriously takes to get approvals and move forward. All the more reason the world needs bitcoin to just make things a least a little faster. One of the key factors to a business to thrive is progress and the speed in which that progress can be made. Expect those who adopt cryptocurrency and bitcoin to start sticking their heads out above the rest soon.
I blame regulations...
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I guess if Wall Street has been beginning to trade bitcoin it's about the time that Bitcoin starts becoming a more "credible" asset/investment.