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Bearish on Bitcoin? This Fidelity Research Will Turn You Into a Raging Bull

Joseph Young
This surprising research from Fidelity is guaranteed to turn even the most ferocious bitcoin bear into a raging bull. | Source: Shutterstock

By CCN: Fidelity Digital Assets, a subsidiary of the world’s fourth-largest asset manager with $2.46 trillion in assets under management, said in a research paper that institutional investments in bitcoin and other crypto assets are likely to increase over the next five years.

The research read:

“Nearly half of respondents (47%) appreciate that digital assets are an innovative technology play. 46% find digital assets’ low correlation to other assets among the most appealing characteristic. Financial advisors (74%) and family offices (80%) view the characteristics of digital assets most favorably.”

The research of Fidelity Digital Assets comes after Tom Jessop, the head of the firm, said in an interview with TheBlock that out of 450 institutions it surveyed, 20 percent or 90 institutions were already invested in the crypto market.

“We just completed a survey of about 450 institutions, so everything from family offices to registered investment advisors to hedge funds. It’s interesting, I think about 20% indicated that they currently allocate to digital assets with an intention to grow that,” he said.

Why Is Institutional Interest in Crypto Increasing?

In recent months, especially in the first quarter of 2019, the institutional sector of crypto has seen significant progress in strengthening custodial services and infrastructure.

Read the full story on CCN.com.