Fidelity Investments entering cryptocurrency market in 2019
I read an interesting article, which contained news of yet another large traditional investment company establishing a presence in the cryptocurrency financial market. Fidelity Investments, which is estimated to be the fourth largest asset manager in the USA, with an estimated to 7.2 trillion US dollars worth of investments under its management has announced that it is launching a new company aimed at financial institutions that want to trade and store digital assets. Fidelity is a company with over 70 years of experience in financial services.
The company will be named Fidelity Digital Assets, and it will offer offline cold storage for digital currency, described in offerings as
offline, vaulted deep-cold storage.<
The new company Fidelity Digital Assets is already said to employ over 100 people, and is reportedly being led by Tom Jessup, formerly managing Director at Goldman Sachs. You can read more here;
https://cryptonews.com/news/huge-news-top-investor-makes-a-splash-crypto-fund-s-ipo-live-2776.htm
I think this is very important news. This bear market has lowered the prices of all the cryptocurrency coins on the market. I think that traditionally investors want to buy low and sell high, so it’s no surprise that large traditional investment companies like Fidelity sat on the sidelines during the last bull market and watched the prices of cryptocurrencies rise to all time highs. It is also no surprise that they are now entering the market during this bear market and many are predicting an inevitable bull market with possible new all time highs above those of the last bull market.
These large investment companies see the profit potential here, Do You? I see it.
I am willing to invest while prices are low, so my amount invested is small and my profit potential is great. It is a calculated risk I am taking. There are no guarantees in life, just decisions to invest and hope for great things. Do your own due diligence and make your own decisions, but when a 7 trillion dollar investment company moves into the cryptocurrency market, I notice and start doing more research.
@shortsegments
Fidelity is a great investor in crypto i heard that they are going to invest 5% of their total fund in crypto thats a kind of great thing for crypto to stable at this point of view.
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That’s interesting. Do you have a reference for that? I would like research that and add that information to my article.
Thanks!
Around 15 or 20 days prior i was reading article and i found this information from it. I will definatly try to find out that information again if i found it i will surely send you link and detail.
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Yeah it's the only possible reason I see we MIGHT not get a bear market in 2019. However these institutions move slowly. If people think this will move the market up quickly, they might get disappointed, and the market moves ever lower.
Hi
I understand what your saying, that things may move slowly in 2019. Do you think large purchases by these companies could create FOMO leading to smaller buyers entering the market also?
At some point in time yes. We might even see a run up towards the end of Feb because some people expect the EFT to come through and think this will be the trigger for a bull run. But that's a BIG if. It might not get approved. Or the impact will be minimal in the beginning. This could crush expectations and push everything down even more. Of course there is also a chance that it could turn out well. I personally do not expect a big bullrun.
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2019 Could Be A Turning Point
Fidelity move will be a good sign. someone needs to start so the others will follow.
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