Be Patient...The Smart Money Is Coming

rollandthomas (74)in #crytocurrencies • 5 years ago

Fidelity Investments Inc., one of the largest asset managers in the world, manages a large family of mutual funds, provides fund distribution and investment advice, retirement services, wealth management, operates as a brokerage firm, etc. The brokerage firm has over 100 investor centers and provides services to retail investors and institutions. This post will focus on the institutions who are salivating at the mouth waiting to get a piece of the crypto space.

Fidelity Investments, which began a custody service to store Bitcoin earlier this year, will buy and sell the world’s most popular digital asset for institutional customers within a few weeks, according to a person familiar with the matter.
The Boston-based firm, one of the largest asset managers in the world, created Fidelity Digital Assets in October in a bet that Wall Street’s nascent appetite for trading and safeguarding digital currencies will grow. It also puts Fidelity a step ahead of its top competitors that have mostly stayed on the sidelines so far. The firm said in October that it would offer over-the-counter trade execution and order routing for Bitcoin early this year.
Fidelity would join brokerages E*Trade Financial Corp. and Robinhood in offering cryptocurrency trading to clients, though Fidelity is only targeting institutional customers.

Source

I talked about the infrastructure being built from Wall Street to Crypto Street which will serve as the gateway to the crypto space. For those who have even small stake in cryptos, well you will be rewarded long time because Bitcoin won’t see $50k, without the institutions.

For the first time since mid-November Bitcoin has dethroned the $6000 level. Many are calling for this rally to be short-lived. Although, I anticipate a pull back, the chart suggests the bottom was in at $3000, with the line in the sand now at $4800.