Fidelity Is Really In Love With Bitcoin: Texas Office Filled With Crypto ASICs

Many cynics say that institutions and other big names in the corporate world aren’t in Bitcoin (BTC) or crypto assets yet. But, this is quickly being proven not to be the case. In a recent tweet, a Bitcoin developer and industry insider revealed that one of the biggest names on Wall Street has and continues to mine BTC.
Related Reading: Fidelity Exec: Hundreds of Institutions Interested in Crypto Investment
Fidelity Continues To Mine Bitcoin
According to Justin Moon, Fidelity Investments, one of the world’s largest asset managers and financial institutions, has a “room full of Bitcoin miners (ASICs) at their [Texas] office.” This likely marks the first time that a Wall Street institution, let alone one of the big names, has actually mined BTC and actively participated in public, renowned blockchains. As Moon puts it, “[this is] cypherpunk AF!”

Ethereum Network Demand Surges; Will ETH’s Price Follow?
Saturday September 14, 2019

Ethereum (ETH) surged today after the aggregated altcoin market responded bullishly to Bitcoin’s period of consolidation in the mid-$10,000 region. This upwards momentum has sent it up towards $185, which has previously been a...

The post Ethereum Network Demand Surges; Will ETH’s Price Follow? appeared first on 12bitplay - Bitcoin Play.

BTW Fidelity has a room full of bitcoin miners at their office. Cypherpunk AF!
— Justin Moon (@_JustinMoon_) May 25, 2019

Bitcoin Price Chart Gives Hidden Bearish Signal on Daily
Tuesday September 10, 2019

Bitcoin price has been consolidating in a tightening range for the better part of the last three months, and the crypto community has been watching and waiting for the first-ever crypto asset to make...

The post Bitcoin Price Chart Gives Hidden Bearish Signal on Daily appeared first on 12bitplay - Bitcoin Play.

This isn’t the first time that Fidelity was revealed to have actually truly involved itself in cryptocurrency.
In an episode of “Unconfirmed” with Laura Shin, Tom Jessop, an institutional executive-turned-Fidelity’s crypto chief, claimed that as early as 2015 or so, CEO Abigail Johnson was mining Bitcoin in her very own office. What’s more, Jessop stated that an R&D division of the company even once tested an internal Bitcoin payments network. The company has since launched custodial services and intends to launch trade execution for Bitcoin, and Bitcoin only.
Ari Paul, the founder & chief investment officer of BlockTower Capital, earlier this year claimed that Fidelity has a cryptocurrency culture that is “bonkers.” The investor remarks that there are “hundreds of passionate advocates” of the innovation from the C-Suite to the lower rungs of the executive ladder, accentuating that Wall Street sees value in this budding ecosystem.

Never Disclose Crypto Holdings: Bitcoin Millionaire Has Run in With Shotgun
Monday September 09, 2019

Once an individual gets started in investing or trading crypto assets like Bitcoin, they should very early on in their journey encounter some commonly cited advice: never invest more than you can comfortably afford...

The post Never Disclose Crypto Holdings: Bitcoin Millionaire Has Run in With Shotgun appeared first on 12bitplay - Bitcoin Play.

Fidelity’s cryptocurrency culture is bonkers. Literally hundreds of passionate advocates at every level of seniority at the firm. They have more people working on crypto than the 5 biggest crypto funds combined.
— Ari Paul (@AriDavidPaul) March 27, 2019

And, the company is obviously known to be working on a custody and trade execution solution for its 20 thousand-odd institutional clients, a purported majority of which believe that digital assets have a future and a place in their portfolios.
Strong Mainstream Support
This valuable tidbit of information confirms that mainstream players in finance and the corporate world are delving into cryptocurrency. As reported by NewsBTC previously, TD Ameritrade and E*Trade, two of the largest American retail brokerages, are soon expected to launch spot cryptocurrency trading support for their clientele. No dates or deadlines were mentioned, but these plans have been confirmed by sources to be solid.
On the corporate side of things, cryptocurrency has started to see monumental levels of adoption. Announced Thursday, AT&T, a Texas-based American technology giant valued at $234 billion, will be accepting Bitcoin payments for its services through the Atlanta-headquartered BitPay. Per a press release, AT&T is now the first “major U.S. mobile carrier” to provide its millions of customers with the ability to purchase services for cryptocurrency.
Researcher Willy Woo noted that whenever common Joes and Jills use Bitpay to pay their AT&T bill or purchase an item or service through other retailers, which is technically a negative selling pressure on BTC spot, “thousands more will see it and consider buying a few thousands of BTC as an investment.”
Featured Image from Shutterstock
The post Fidelity Is Really In Love With Bitcoin: Texas Office Filled With Crypto ASICs appeared first on NewsBTC.

You may also like...