The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Institutional Investments in Bitcoin Creating Very Different Market Than 2017, Says Fidelity Digital Assets President

by Daily Hodl Staff
February 1, 2021
in Bitcoin

The president of Fidelity Digital Assets is offering his take on the state of the crypto markets.

In a new interview with CNBC, Tom Jessop says he’s optimistic that the incoming Biden administration will support the growth of the crypto industry.

“Given chairman-elect Gensler’s experience in the space and what he’s been doing in recent years, I think it paints a more generally constructive attitude or picture in terms of what we might expect going forward. I would note that we saw some fairly interesting and good regulatory developments last year.

You look at the OCC (Office of the Comptroller of the Currency) and some of the guidance they’ve given banks around access to the asset class where you are participating in some of these networks and more recently and perhaps less publicized, some requests for comment from the SEC (U.S. Securities and Exchange Commission) around a better definition around what it means to be a custodian in this space and even some questions about what it would mean for broker-dealers to transact in tokenized securities. So even predating this news, we’ve started to see more constructive engagement with regulators and we think that will persist into the new year.” 

As for the price of Bitcoin, Jessop says he thinks BTC is in a period of healthy consolidation.

When asked if institutional investments in the top cryptocurrency could help prevent a repeat of 2017 wherein BTC approached an all-time high followed by a two-year bear market and 80% decline, Jessop says things may be different this time around.

“This is a healthy phase of consolidation for the market. Given that this market is still very much in its adolescence, it’s hard to attribute price activity to specific factors… Our clients, institutions that work with us, have been steady net buyers throughout this entire period and we continue to see strong demand among institutions for access to the asset class. So that’s really our perspective on what’s happened recently…

I wouldn’t rule it out [a future 80% drop in price], but I think we’re in a very different market now than the one we experienced in 2017. I think the composition of investor interest has changed dramatically. We’ve moved from 2017, a very retail-driven frenzy into the final weeks of that year, and now we’re seeing much broader-based institutional adoption.”

I
Follow us on X, Facebook and Telegram

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Industry Announcements

  • Plutus Launches PLUS More on Base – A New Era of Tokenized Loyalty Rewards
    May 13, 2025
  • DoubleUp – A New Generation of GambleFi
    May 13, 2025
  • MoonX: BYDFi’s On-Chain Trading Engine – A Ticket From CEX to DEX
    May 13, 2025
  • Canelo Álvarez Joins 1Win As Global Ambassador After Historic Title Victory
    May 13, 2025
  • AB DAO and AB Charity Foundation Join Forces To Build a Trustworthy Infrastructure and Promote Global Philanthropic Transformation
    May 12, 2025
  • Sonic Labs Announces $10 Million Token Sale to Galaxy for US Expansion
    May 12, 2025
  • New Purpose-Built Blockchain T-Rex Raises $17 Million To Transform Attention Layer in Web 3.0
    May 8, 2025
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$103,649.77
$103,649.77
0.95%
Ethereum
$2,632.29
$2,632.29
6.95%
BNB
$657.92
$657.92
1.38%
Solana
$181.48
$181.48
5.89%
XRP
$2.61
$2.61
4.76%

Spotlight

  • Crypto Analyst Unveils ‘Perfect Trade’ for Bitcoin, Sees BTC Mirroring Gold Price Action in 2020
    May 7, 2025
  • BlackRock Buys $2,500,000,000 Worth of Bitcoin As BTC Price Holds Steady: Arkham
    May 7, 2025
  • Trillion-Dollar Bank Paying $510,000,000 Fine After ‘Conspiring To Hide’ $4,000,000,000 From IRS
    May 7, 2025
  • $2,000,000,000,000 in Demand for US Treasuries Could Come From Digital Assets in Coming Years: Treasury Secretary Scott Bessent
    May 7, 2025
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2025 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2025 The Daily Hodl