Bitcoin Adoption has Reached its Tipping Point-Tom Jessop

Shumaila  |  Apr 8, 2021

Head of Fidelity Digital Assets, Tom Jessop says that Bitcoin adoption as a class of investments and its subsequent maturation will continue at an expeditious rate in the coming future, indicating that cryptocurrencies may have turned a corner in the traditional financial markets.

Fidelity Investments is a pioneer of digital asset management and has spearheaded the integration of digital assets into traditional investment portfolios apart from other services that they offer. Starting from 2015, the investment firm was one of the first major institutions to explore Bitcoin and later other cryptocurrencies.

Bitcoin Adoption has Turned a Corner Due to Ultralow Interests

Answering a question in an online crypto investment podcast interview, Jessop said;

“I think we continue to see adoption at an accelerated pace for a host of reasons,”

He believes that the trading conditions have been stimulated by easy-money policies, plus ultralow rates of interest have all combined to boost Bitcoin to its current mark and drive momentum into other digital assets as well. Today, these digital assets or altcoins are in fact seen as alternatives that are richly priced by some measure and bonds that offer meager yields.

Crypto Adoption has now Reached its Tipping Point-Tom Jessop

Bitcoin has recently been enjoying its status of being the biggest cryptocurrency in the world by maintaining its $1 trillion market cap while managing to trade above the $53k mark. Which has led to a surge of $2 trillion of the overall cryptocurrency market capitalization, a first-ever historic high in the crypto space.

“We’re not going to get out of this stimulated environment anytime soon,” Jessop said. “I think we’ve reached a tipping point.”
“I think you’ve had the accumulated experience of now roughly 12 years of the bitcoin blockchain being operative since the genesis block in early 2009. And the pandemic, quite frankly, was a catalyst for institutional adoption, and specifically bitcoin and the narrative, or use-case, around digital gold,” he further added.

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