Fidelity believes institutional adoption of BTC will proceed

by in Cryptocurrency News


In the coming years, we will see institutional adoption of Bitcoin (BTC) go mainstream. This point of view is shared by Tom Jessop of Fidelity.

The top manager is confident that the majority of large investors are already changing their attitude towards BTC and other digital currencies.

Changing positions on the potential of the crypto sphere is a leading factor in stimulating financial institutions to buy cryptoassets.

Investments in traditional instruments are becoming less profitable. This trend cannot but change the attitude of companies and investment funds towards cryptocurrencies and bitcoin, in particular, which has shown explosive growth only this year.

Trending: Cardano Completed Its Vasil Hard Fork With Success

The coronavirus pandemic was a landmark event, Jessop said. It was during this period that the crypto market became more attractive for a wide variety of categories of investors.

As soon as institutions begin to massively come to BTC, this process can no longer be stopped, summed up the top manager of Fidelity.

The growing interest of large investors in bitcoin was also pointed out earlier by the British financial company Ruffer Investment.

Trending: MetaMask announces integration with Apple Pay

In her report, it was said that the institutional adoption of cryptocurrency will be gradual. Some institutions, for the sake of interest, have already entered Bitcoin. Others still fear volatility. However, in the future, such companies will also start buying BTC.