Bitcoin Has Become The Main Focus Of Fidelity Investments ‘ Digital Assets Division.
Bitcoin has become the main focus of Fidelity Investments ‘ digital assets division. In an interview with the Boston Globe, Christine Sandler, Fidelity’s head of sales and marketing, said 90 percent of Fidelity’s biggest customers have asked about bitcoin.
Tom Jessop, head of Fidelity’s digital asset unit, told The Boston Globe that the company is playing a long-term game of building a new financial infrastructure around Bitcoin.
“You’re seeing the growth of the real asset class,”Jessop said of bitcoin’s corporate adoption.
When asked about support for other subsources, Jessop replied,”I don’t think we will be the most complete service provider in terms of asset coverage.” Fidelity currently mines and stores bitcoins for institutions because of”security, reliability and security.”
Christine Sandler continued:” We’re dealing with more traditional investors, and the tool to get into this space is mostly bitcoin, “but added that interest in subcodes like ethereum” has nothing to do with what we see in bitcoin.”
Institutions are increasingly healthy and turning to Bitcoin to hedge against inflation, Jessop commented: “what really gets people out of control is the pandemic, because they are a scarce asset class, only 21 million bitcoins will be created. and there is an environment in which our currency is declining and a ton of money printing.”
At the end of last year, when bitcoin prices skyrocketed, well-known investors like Stanley Drakenmiller and Paul Tudor Jones were intrigued as a means of preserving its value, Jessop said, “when competition ignited.”
Jessop also expressed optimism about recent pressures to regulate bitcoin, provided it was nothing more than regulated. “We advocate regulation,” he said, “for the growth of this asset class and for investors to be confident of that.”
90% of Fidelity’s biggest customers want bitcoin
