Mike Alfred, CEO of the analytical company Digital Assets Data, believes that large financial companies still doubt the reliability of bitcoin.
“Many representatives of traditional financial companies that manage assets and capital continue to be deeply skeptical of bitcoin and the cryptocurrency ecosystem. One of the commenters on my LinkedIn account even called Fidelity’s move “Abby’s stupidity,” said Alfred.
We are talking about the launch of the first index Fund for bitcoin Wise Origin Bitcoin Index Fund by the investment company Fidelity Investments, which was announced at the end of August. Abigail Johnson is the CEO of Fidelity.
“On the other hand, I believe that this skeptical attitude will eventually change. And this will help the further growth of bitcoin and the adoption of cryptocurrencies. As these traditional companies start accepting bitcoin, they will have to invest in it at ever higher prices. I think that BTC has a very long period of growth ahead of it, ” said the CEO of Digital Assets Data.
Earlier, Mike Alfred said
that the financial world is beginning to show interest in bitcoin. The launch of a bitcoin Fund by Fidelity Investments confirms this trend:
“I think this confirms my previous words about the growing interest in cryptocurrencies in the traditional Finance and money management industry in the United States. The real acceptance of bitcoin in these circles will be extremely positive for bitcoin. Fidelity is just the beginning, ” concluded Mike Alfred.
Back in may, the Manager of a large hedge Fund Tudor BVI Paul Tudor Jones (Pol Tudor Jones) said that bitcoin will perform well as a hedging asset with growing risks of inflation.