Bitcoin First: The financial behemoth Fidelity admitted they are both hodling and mining the world’s most popular cryptocurrency. If that’s the case: what about their competitors?  Covered:  Fidelity Hodling Fidelity Bitcoin: Head of Sales and Marketing Has Laser Eyes Why Fidelity Loves Bitcoin Fidelity Hodling Since 2014 Many have speculated that giants such as Fidelity […] The post Fidelity Admits They Have Been Stacking Bitcoin Since 2014 appeared first on CryptosRus.

Fidelity Admits They Have Been Stacking Bitcoin Since 2014

Bitcoin First: The financial behemoth Fidelity admitted they are both hodling and mining the world’s most popular cryptocurrency. If that’s the case: what about their competitors? 

Covered: 

  • Fidelity Hodling
  • Fidelity Bitcoin: Head of Sales and Marketing Has Laser Eyes
  • Why Fidelity Loves Bitcoin

Fidelity Hodling Since 2014

Many have speculated that giants such as Fidelity have been secretly accumulating Bitcoin all these years. That conjecture is now a verified fact, in the case of Fidelity. The company’s head of sales said today: “we started mining and accumulating bitcoin in 2014.”

Christine Sandler, the executive who made the comments notably came over to Fidelity in 2019 from Coinbase. She was hired at that time to oversee the new digital assets division at Fidelity. In light of this, it is easy to see how Fidelity’s connection to crypto.

Fidelity Bitcoin: Head of Sales and Marketing Has Laser Eyes

Christine herself is clearly a bitcoin acolyte, dawning laser eyes on Twitter with bitcoin in the bio. Seems pretty bullish when top executives at a company with $765 billion in assets under administration are supportive of crypto and bitcoin to the point of dawning the laser gaze.

How much does Fidelity own? No one knows, but we know that this admission is just another domino down in Fidelity’s bitcoin embrace. Just a couple of days ago they declared Bitcoin to be “superior money” and in August bought over 7% of the largest Bitcoin mining firm in the world, Marathon Digital.

Recommended: Four Trillion Dollar Asset Manager Says Bitcoin Is Superior Money

Regardless, having a mega-bull (constantly liking Jack Dorsey and Michael Saylor tweets) head up Fidelity’s Sales and Marketing team is beyond bullish. We could’ve never imagined this even just a year ago. The company itself has arguably become the third most pro-bitcoin entity in the world, next to Block and Microstrategy.

Why Fidelity Loves Bitcoin

In their 26 page report where they called Bitcoin “superior money”, they delve into the many reasons why Bitcoin is destined to succeed on a global scale. They talk about how alt-coins, in their opinion, can’t really compete as they will have to sacrifice either decentralization or security.

“Because Bitcoin is currently the most decentralized and secure monetary network (relative to all other digital assets), a newer blockchain network and digital asset that tries to improve upon bitcoin as a monetary good will necessarily have to differentiate itself by sacrificing one or both of these properties.”

credit: https://www.fidelitydigitalassets.com/bin-public/060_www_fidelity_com/documents/FDAS/bitcoin-first.pdf

Keep in mind, that if Fidelity is actively hodling, stacking, and mining bitcoin, there is case to be made that their competitors might be doing the same. The finite supply, which is programmed to become more scarce, will suddenly be impossible to get on exchanges in the coming years.

In short, be like Fidelity. Stack sats, keep your head down, and let the best money on earth do its thing.

The post Fidelity Admits They Have Been Stacking Bitcoin Since 2014 appeared first on CryptosRus.