Fidelity says the use of Bitcoin will continue to accelerate – 'We've reached a turning point'

Fidelity's head of digital assets said bitcoin's adoption will continue at an "accelerated pace", noting that we "have reached a tipping point". "Especially in an environment where we are seeing unprecedented monetary and financial incentives from central banks and governments in response to the epidemic," he explained. Tipping Point of Bitcoin Adoption Fidelity Investments Fidelity Digital Assets President Tom Jessop spoke about the adoption of Bitcoin in an interview with Marketwatch on Sunday and at Barron's "Investing in Crypto" event. Jessop is also responsible for Fidelity Investments' business development. The director of Fidelity stated that the maturation and adoption of bitcoin as an investment class "will continue rapidly in the coming years", adding that this indicates that the cryptocurrency is perhaps turning a corner in traditional financial circles. He was quoted as saying: I think we continue to see more and more adoptions for various reasons. The head of digital assets at Fidelity had previously spoken about the maturation of the Bitcoin market. "There is more liquidity. Volatility has decreased by about 50% compared to 2017. So… We think the structure of this investor base, which is driving the market up today, is fundamentally different from what we see there. Three years," he said in January. Jessop said extremely low interest rates and easy. He went on to explain why investors are increasingly turning to Bitcoin on Wednesday, referring to factors such as an environment fueled by monetary policies. And the pandemic has obviously been a catalyst for corporate adoption, especially bitcoin and 'story or use – business around digital gold,' said Jessop. Read more

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