In the early days of both Bitcoin and the cryptocurrency market, many thought it was only a flash in the pan, as they believed there was no future for both entities. Fortunately, the crypto market and Bitcoin have continued to thrive beyond such criticisms, as Bitcoin has become one of the most coveted digital assets in the space.
On the other hand, according to crypto data analytics firm- Messari, the cryptocurrency market has become one of the most sought-after investment spaces in the world. However, the CEO of Fidelity- Tom Jessop, is convinced that this is just the cryptocurrency market’s starting point.
Jessop believes that the crypto market is just at its beginning
Speaking at a seminar yesterday, the head of the investment firm believes that the adoption of cryptocurrencies will continue to be on a high, as the Blockchain market is changing the face of traditional finance. He expects that the next few years will be crucial for both the crypto market and its investors and sees the adoption of cryptocurrency skyrocket to another level entirely.
The Fidelity Executive also believes that, despite the market boasting top business investors in its space at the moment, those figures are a joke to what it will have in the nearest future. Jessop also believes that investors are drawn to the Blockchain market due to the high profit the space can offer. However, he believes that traditional finance firms cannot match such profit offerings of the cryptocurrency.
Hence, he is so optimistic that the crypto market is just at the beginning of its dominance. Jessop believes that the fortunes of the crypto market were improved by the COVID-19 pandemic of 2020, which had seen many investors flock around the space’s digital assets to maximize profits. However, he believes that despite the world almost restoring from the pandemic’s effect, the crypto market will continue to boom.
Fidelity has also filed for a Bitcoin ETF license
While Jessop’s words sound like prophecies, he is not the only one to believe in the cryptocurrency market, as many analysts have expressed their optimism about the future of the market. Before now, crypto analysts, especially Bitcoin investors, have all expressed such optimism for the market, as they believe that the digital asset and the crypto market are both heading towards a brighter future.
However, Jessop and Fidelity have great expectations for the cryptocurrency market and have announced last month that they were filing for a Bitcoin ETF license from the U.S Securities and Exchange Commission (SEC). The SEC has refused to grant a license to any BItcoin ETF in the U.S, as they are not convinced that the cryptocurrency market is not manipulated. However, Jessop’s Fidelity and many other firms in the U.S who have all filed for a license before now are optimistic that the SEC will reconsider their stance.