Fidelity offering BTC is being underestimated in terms of importance.
With bank sector turmoil in the news, "mouse-click capital flight" has become a reality. There are many possible scenarios here. Just one: Sudden dollar weakness on a Sunday night. Millions log onto their...
Fidelity accounts trying to grab protection for their retirements with a click. Or no specific event needed...just continuing investor worries about inflation.
Fidelity has 40.9 million workplace participant accounts, 37.1 million retail accounts, and 8.2 million accounts...
managed by wealth management firms. Assets under administration: $10.3 trillion. That's a lot of potential mouse clicks on a Sunday night.
Fidelity is making this a priority and pushing it hard, as anyone with an account there knows. On its website under Products, crypto...
is offered between "retirement & IRAs" and "fixed income, bonds & CDs." That's some pretty nice real estate.
Sidenote: Fidelity is one of the largest employers in Elizabeth Warren's home state, and has deep political connections. If they thought there was any existential...
threat from DC, they wouldn't touch this area.
Over the next year or two, it will be interesting to see any metrics from Fidelity on client engagement with BTC. For now, I believe traders are underestimating the potential importance of this as a supporting factor and a...
spike multiplier of a BTC price move. I've said it before: In bear markets, on-ramps mean nothing. In bull markets, they mean everything.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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