Since the beginning of 2021, the cryptocurrency industry is flying high and is constantly reaching new milestones. Whether it is market capitalization, prices, all-time highs, or adoption levels on an individual or overall level, the industry is shining brighter than ever.
Almost every day, a new cryptocurrency is being launched or a new product is being introduced in the crypto-verse. Whether it is non-fungible token (NFT) adoption, decentralized finance (DeFi) adoption, or any other, the industry has been gaining a lot of momentum and adoption.
The best thing that could ever happen to the overall cryptocurrency industry was to get adopted by the mainstream institutions. Fortunately, for the cryptocurrency industry, the mainstream institutions have now adopted some of the major cryptocurrencies.
Out of all the cryptocurrencies, the most liked and adopted cryptocurrencies are Bitcoin (BTC) and Ethereum (ETH). Whether is a banking firm, online payments solution, e-commerce giant, or any major investment firm, there are very high chances they now have these two assets onboard.
As mainstream institutions on a larger scale have accepted these two digital assets, there are speculations that soon the rest of the cryptocurrencies will be on board as well.
In the light of the above, majority of the crypto-investors including the mainstream institutions are bullish about cryptocurrencies.
Like the majority of mainstream institutions, the executives at Fidelity have the same speculations about cryptocurrencies. Fidelity is known to be one of the largest firms in the investment sector and the firm is also very interested in cryptocurrencies. The firm as a whole has expressed its views about cryptocurrencies.
The firm has revealed that it is on the bullish side of cryptocurrencies and it is confident that the cryptocurrencies will continue to grow bigger, and stay bullish in the upcoming future.
It was on Thursday, April 8, 2021, when the head of Fidelity’s crypto-investment division, Tom Jessop shared his views on cryptocurrencies. Jessop stated that cryptocurrencies are now beyond the basic understanding of the assets being decentralized.
Cryptocurrencies are now on the verge of opening up a new chapter in the traditional finance sector. Soon, the cryptocurrency industry will be able to hit new milestones and will be reaching a tipping point for the entire industry.
Jessop predicted that cryptocurrencies would continue to mature at a very fast rate in the coming years. The same kind of behavior for cryptocurrencies would be observed in terms of adoption among the mainstream/retail institutions.
He stated that one of the major reasons why cryptocurrencies would take the lead in the finance sector would be the high interest rates. Ever since the introduction of traditional finance, consumers have always complained about really low interest rates on their investments or savings.