Evolution of a new form of money

  1. Fidelity Investments is the fourth largest asset manager with $7.2 trillion in assets under administration as of October 2018. Fidelity has announced on October 15th that they are forming a subsidiary called Fidelity Digital Asset Services. This subsidiary will provide crypto related services to institutional investors. They intend to provide a trading execution platform, enterprise-grade custody solutions, and institutional advising solution. Since the cryptocurrency markets never close, this division operates 24 hours a day and 365 days a year. Financial institutions tend to act like a herd. This is a clear sign that wall street herd is coming into the crypto world. Fidelity currently has 80 million retail customers. If each of them wants to buy just 1 bitcoin, we know it is impossible.

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Sam Ikkurty

Sam Ikkurty

Managing Partner of Ikkurty Capital. Crypto-enthusiast.