El Salvador adoption a ‘coming of age’ for Bitcoin, says Fidelity exec
Fidelity's Jurrien Timmer believes that the significance of El Salvador’s Bitcoin move is “a little bit overplayed.” El Salvador’s adoption of Bitcoin (BTC) as legal tender is widely celebrated across the crypto ecosystem, but one expert believes the importance of the rollout was a little bit exaggerated.Speaking to CNBC, Fidelity Investments director Jurrien Timmer said that the significance of El Salvador’s Bitcoin move is “a little bit overplayed.”“Because it’s not like El Salvador has dropped the U.S. dollar as its peg,” Timmer explained. “It’s not like it switched from dollars as its....
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The Mexican Bitso exchange has been providing its custody and exchange services to Chivo so that the government of El Salvador can buy Bitcoin. El Salvador’s government-backed Bitcoin (BTC) wallet has reached significant success in terms of adoption, according to an exec at the cryptocurrency exchange behind the wallet.The Chivo wallet was launched in conjunction with BTC becoming legal tender in El Salvador on Sept. 7, 2021. The official platform allows users to buy and sell Bitcoin, offering cryptocurrency custody and exchange services provided by the Mexican crypto trading platform....
The reduction of the remittance cost seems to be the major reason for the adoption of Bitcoin by El Salvador. CABEI has recognized that remittances are a vital feature of El Salvador’s BTC adoption policy. Central American Countries May Adopt Bitcoin After El Salvador Recently, it was reported that the expectations of the RDB (Regional […]
In a jampacked report on digital assets, Fidelity asset management theorizes that miner movements indicate the Bitcoin cycle has a lot more room to run. Fidelity Digital Assets — the crypto wing of Fidelity Investments, which has $4.2 trillion assets under management, shared their “two sats” on the future of the digital assets space. The key takeaways touched upon miners’ behavior and Bitcoin (BTC) network adoption. In the annual report released last week, the group shared some insights into the world of BTC mining:“As Bitcoin miners have the most financial incentive tho make the best....
Fidelity expects more sovereign nation states, or even a central bank, to acquire bitcoin this year. “There is very high stakes game theory at play here, whereby if bitcoin adoption increases, the countries that secure some bitcoin today will be better off competitively than their peers,” the firm explained.
Fidelity’s Crypto Predictions
Fidelity Digital Assets, a subsidiary of Fidelity Investments, published a report on crypto trends and their potential future impact earlier this month. Among the trends discussed in the report is the adoption of....
Jimmy Song shares his perspective on El Salvador's adoption of bitcoin, the housing market and how fiat currencies reduce the quality of life.