Volatile Bitcoin Not a True Store of Value Just Yet, Says Fidelity Digital As...
Fidelity Digital Assets president Tom Jessop says that bitcoin is not a true store of value just yet because the digital asset is still too volatile, Reuters reported. However, investors are optimistic bitcoin will attain this status. “We use the word ‘potential store of value’ as bitcoin is still extremely volatile, and by any standard perhaps would not achieve the mantle of a true store of value,” Jessop told Reuters’ Global Investment Outlook Summit 2020 on Thursday. “But aspirationally it is, and that’s one of the reasons why so many investors....
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Many investors aspire to hold bitcoin as a store of value, but right now the cryptocurrency is very volatile, said the head of Fidelity Digital Assets.
Fidelity Digital Assets, the digital arm of Fidelity Investments, is set to double its staff this year to reinforce and meet the mounting demand of clients who continuously invest and trade in crypto assets 24/7. Currently having 200 employees, Fidelity Digital, with over $4.5 trillion worth of assets, is looking to hire people for the […]
Fidelity is planning a hiring spree to add ether trading and custody services to its cryptocurrency business. “As the demand for digital assets continues to steadily grow and the marketplace evolves, we will continue to expand our hiring efforts,” a Fidelity executive explained. Fidelity Expanding Crypto Services Fidelity Investments’ digital assets subsidiary, Fidelity Digital Assets, is expanding its services. Founded in 2018, Fidelity Digital Assets currently employs about 200 people. The company is looking to fill 110 new positions to focus on assets beyond....
Three senators chastised Fidelity for offering a bitcoin 401(k) option claiming it is too volatile and untested to be used as a retirement savings tool.
The institutional buy-in through major banks and adjacent firms continues this week. Fidelity Digital is the company’s enterprise-grade solution for digital assets. In a recent story first broken by Bloomberg this week, crypto demand is leading the Fidelity division to expand staffing by roughly 70%. Fidelity Digital: Doubling Down The report cites an interview with […]