Home
News
- Fidelity group’s president claims that Bitcoin has reached a tipping point
- In coming years it is expected that Bitcoin will face more mainstream acquisition at an accelerated pace
- Many in the cryptosphere consider that the crypto investment market seems to be matured now
Fidelity, an enterprise-grade Bitcoin custodian, expects a more accelerated adoption of the crypto coin. According to Tom Jessop, Fidelity’s president, the adoption of BTC will continue at an accelerated momentum. The head further explained that the flagship cryptocurrency had reached a tipping point, and the investors are increasing drastically. Moreover, the reason behind the soaring interest of investors has generated after they faced unprecedented monetary and fiscal stimulus from central banks in response to the COVID-19 pandemic.
Fidelity claims that Bitcoin adoption will rise more
In a recent interview at Marketwatch and Barron’s “Investing in Crypto” event, Tom Jessop from Fidelity Digital Assets discussed the Bitcoin adoption. According to Jessop, digital currency’s maturation and adoption as an investment class will continue. Moreover, it is expected that the acquisition will increase at a rapid pace in the coming years. However, the statement Tom clarified that digital currencies might have turned a corner in traditional finance circles.
In the interview, Tom also claimed that we would continue to witness such acceleration due to a host of reasons.
Digital asset market seems to get more matured
Previously, Fidelity had spoken regarding the maturity of the Bitcoin market. According to Tom, there is more liquidity, and the volatility of crypto is also down since 2017. Following such facts, it is believed that the composition of this investor base, what is driving the cryptos towards the moon, is different from what we saw in 2017.
Furthermore, he explained the reasons of investors turning towards Bitcoin in the interview. The logic also included low-interest rates and an environment stimulated by easy-money policies.
How has digital currency reached a tipping point?
In the interview, the person from Fidelity Digital Asset mentioned the environment. A particular environment where we have faced unprecedented monetary and fiscal stimulus from central banks. Following the aforementioned factors, Tom explained that we are currently at such a point where getting out in the near future is impossible.
Fidelity Investments head is not only to believe BTC has hit a tipping point
It is also observed that Tom, who also is the fidelity investments head, is not the only person who believes that Bitcoin has reached a tipping point. Mike Novogratz, a Bitcoin investor, also expects that the flagship cryptocurrency has hit a tipping point, and the bulls are unlike to sit on the sidelines. Novogratz’s approval also followed a few approvals from a few Bitcoin exchange-traded funds (ETFs).
The digital assets custodian is at the vanguard of integrating cryptocurrencies into old portfolios. Also, few central financial banks like Goldman Sachs are found considering the market as matured.
