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.
