Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX
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
Check Price Action

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

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

 
Check Latest News Headlines


 
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 loses 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

  • DeFiChain Forms Technical Committee To Further Decentralize the Consensus Code Governance
    May 23, 2022
  • LongHash Ventures Partners With Protocol Labs To Launch the Third LongHashX Accelerator Filecoin Cohort
    May 23, 2022
  • Swappi’s New Launchpad Feature To Bring IDOs to Conflux
    May 20, 2022
  • First Global Web 3.0 Eco Innovation Summit Comes to Singapore
    May 20, 2022
  • Wombat Soars to $40 Million in Total Value Locked While Still at Beta
    May 20, 2022
  • Babel Finance Used Collateralized eNote on FQX’s Solana DApp via Fireblocks
    May 19, 2022
  • Top Solana Play-to-Earn Contender DeFi Land Launches Its First Play-and-Earn Game
    May 18, 2022
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$29,206.00
$29,206.00
3.9%
Ethereum
$1,980.03
$1,980.03
3.41%
Cardano
$0.51621
$0.51621
5.09%
XRP
$0.406979
$0.406979
3.73%
Dogecoin
$0.083473
$0.083473
3.19%

Spotlight

  • Terra (LUNA) Is a Case of Marketing and Memes Gone Wrong, According to FTX CEO Sam Bankman-Fried
    May 16, 2022
  • Richest Bitcoin Whale Splurges $90,000,000 on BTC in Less Than a Month Amid Crypto Market Tumble
    May 19, 2022
  • Crypto Hedge Fund CEO Su Zhu Lists Three Potential Catalysts for Next Bitcoin (BTC) Rally
    May 22, 2022
  • Crypto Analyst Says One Deeply Oversold Decentralized Finance (DeFi) Altcoin ‘Can Move Fast’
    May 17, 2022

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

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

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2022 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX

© 2022 The Daily Hodl