Fidelity Investments Steps Further Into The Crypto Market

Fidelity Investments Steps Further Into The Crypto Market

Current CEO of Fidelity Investments, Abigail Johnson, is a crypto enthusiast who sees huge potential in the blockchain technology. However, the company’s approach to finances is notoriously slow and methodical. Fidelity Investments is a major asset manager and investing firm that also provides a full menu of brokerage services. It just made a really bullish announcement, and that’s on top of the fact that it started offering bitcoin trading not too long ago.

In addition to developing new cryptocurrency-based products, Fidelity will soon begin offering Bitcoin to their 401(k) customers. One of the largest brands in the investing and advising industry, with over $4.5 trillion in AUM and around $12 trillion in AUM overall. Its top brass thinks it would be smart to enter the cryptocurrency business.

There are numerous encouraging signs that the cryptocurrency market is healthy. As is the case with mining difficulty, the hash rate on the two largest networks is almost at an all-time high. Many market watchers see the recent drop following the $69K all-time high as the beginning of a huge Bull Run. It appears that many businesses are preparing for it. BlackRock, for instance, has a Bitcoin-specific fund among several others that will help it grow its share of the cryptocurrency market.

The addition of Fidelity Investments to Bitcoin’s roster of institutional investors (along with BlackRock and JPMorgan) is encouraging news that bodes well for the cryptocurrency’s future. While pension fund owners may want to invest in Bitcoin now for long-term gains, retail traders will soon be able to trade BTC and ETH on the Fidelity platform. Customers of Fidelity have a great opportunity to retire with a million dollars or more if they take action immediately.

The participation of such significant institutions is a strong signal that cryptocurrency is being increasingly recognized as a viable investment option. The fact that a well regarded corporation now allows its employees to invest their 401(k) funds in Bitcoin is a strong indicator that the value of this commodity will rise in the future.

Royal Seed
Royal Seed is a brand new contributor to Alltechcraft, and his writings focus on cryptocurrency news and platform reviews. We highly suggest keeping up with his most recent writings, since they are both quite insightful and fascinating. (Follow him on [email protected]_nba )