After the news about Bitcoin (BTC) fundraising from Fidelity Investments, Mike Alfred, CEO of Digital Asset Data Analytics Unit, described he is still hesitant about regular funding when it comes to Bitcoin.
Alfred told Cointelegraph on September 10: “A lot in the traditional financial services / asset management / asset management sectors are still extremely skeptical about Bitcoin and the ecosystem.” Said takes a shot at Fidelity Director Abigail Johnson due to her activities and her position as one of the first Bitcoin users.
A traditional financial institution, Fidelity, with a subsidiary of Fidelity Digital Assets, has made a name for itself in the crypto room in the cryptocurrency watchdog. On August 26, 2020, Fidelity applied for a Bitcoin trading product – the Wise Bitcoin Index Fund – in accordance with the exemption from Rule D issued by the U.S. Securities and Exchange Commission (SEC).
“From a controversial perspective, I think this suspicion and distrust will feed Bitcoin adoption and raise prices in the future,” Alfred said. “When these traditional people give up, their customers and partners force them to participate at much higher prices,” he added. “I think BTC has a very long way to go.”
A few months ago, Alfred mentioned evidence of the growing general economic interest in Bitcoin. He explained that the Bitcoin Fidelity Fund, as well as the unit’s work in the cryptocurrency space, contribute to this.
“I think this speaks to my previous comments about the growing interest and awareness of traditional areas of asset and asset management in the US. Serious introduction of these channels will be very optimistic for BTC. Sincerity is the leader.”
Other signs of increased interest in Bitcoin have also emerged in 2020, such as the participation of principal hedge sponsor Paul Tudor Jones.