As the news regarding Fidelity Investments’ Bitcoin fund broke out, the CEO of analytics outfit Digital Assets Data, Mike Alfred, stated that mainstream finance is still a bit hesitant towards Bitcoin.
On September 10, while talking about Fidelity’s move, Alfred stated that mainstream finance still does not have faith in Bitcoin and the ecosystem. He further criticized the CEO of Fidelity Investments Abigail Johnson for her earlier activities as a Bitcoin adopter.
Abby’s Folly Move By Fidelity Investments
Alfred also mentioned that a few days ago, he noticed a comment on his LinkedIn regarding Fidelity’s recent move. The CEO of Digital Assets Data explained that the person who had commented on his post believes Fedilety move to be ‘Abby’s Folly’.
As per the report, Fidelity Investments and its daughter company Fidelity Digital Assets have gained popularity in the crypto space for the crypto custody.
On August 26, Fidelity filed its paperwork for a new Bitcoin fund with the US Securities and Exchange Commission (SEC).
Alfred speculated that the mainstream’s scepticism and disbelief would somewhere positively affect the Bitcoin adoption in the future. He mentions that if the Bitcoin adoption increases then its price would also surge up.
Mainstream Interested In BTC
The CEO of Digital Assets Data further explained that soon after the traditional folks surrender, their clients and partners would strat pressurizing them to get involved with digital assets at higher prices.
According to a report, a few months ago, Alfred stated that for quite a long time he has been noticing that the mainstream financial’s interest is growing in Bitcoin.
In his statement, Alfred further stated that Fidelity’s recent move is a great example of mainstream financial’s growing interest.
The CEO of Digital Assets Data stated, “I think it speaks to my previous comments about growing interest and awareness in the traditional asset management and wealth management spaces in the US.”
Additionally, he stated that if the traditional asset management and the wealth management seriously started adopting BTC then it would be beneficial for it.