Fidelity Says Bitcoin Adoption Will Continue To Accelerate – ‘We’ve Reached a Tipping Point’ – Featured Bitcoin News

Fidelity’s head of digital assets says bitcoin adoption will continue “at an accelerated pace,” noting that “we’ve reached a tipping point.” He explained that investors are increasingly drawn to bitcoin “Especially in an environment where we have seen unprecedented monetary and fiscal stimulus from central banks and governments in response to the pandemic.”

The tipping point of Bitcoin adoption

Tom Jessop, president of Fidelity Digital Assets at Fidelity Investments, spoke about bitcoin adoption on Wednesday during an interview at Marketwatch and Barron’s “Investing in Crypto” event. Jessop is also Head of Corporate Business Development for Fidelity Investments.

The Fidelity manager says bitcoin’s maturation and adoption as an investment class “will continue at a rapid pace in the coming years,” said Marketwatch, adding that this suggests cryptocurrency may have turned a corner in traditional financial circles.

He was quoted as saying:

I think we continue to see adoption at an accelerating pace for a variety of reasons.

The head of digital assets at Fidelity has previously said that the bitcoin market is maturing. ‘There is more liquidity. Volatility is down about 50% from 2017. So… we believe that the composition of this investor base, which is driving the market up today, is fundamentally different from what we saw three years ago, ”he said in January .

Jessop went on to explain why investors are increasingly drawn to bitcoin on Wednesday, citing factors such as ultra-low interest rates and an environment fueled by easy-money policies.

“I think you’ve had the accumulated experience of about 12 years now where the bitcoin blockchain has been operational since its inception in early 2009. And the pandemic was frankly a catalyst for institutional adoption, and in particular bitcoin and the story, or use- case, around digital gold, ”described Jessop.

The Fidelity director said, “Especially in an environment where we have seen unprecedented monetary and fiscal stimulus from central banks and governments in response to the pandemic,” added:

I think we’ve reached a tipping point … We’re not going to get out of this stimulated environment anytime soon.

Jessop isn’t the only financial director to believe that bitcoin has reached a tipping point. Bitcoin bull Mike Novogratz, CEO of Galaxy Digital, said last month that “Bitcoin adoption has reached a tipping point and investors don’t want to sit on the sidelines.” His comment followed the approval of some bitcoin exchange-traded funds (ETFs) in Canada. Meanwhile, investment bank Goldman Sachs is also seeing the bitcoin market mature.

Do you agree with Tom Jessop on the tipping point of bitcoin adoption? Let us know in the comments below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or invitation to an offer to buy or sell, or a recommendation or endorsement of products, services or companies. does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.