Stonegate Global – Crypto360 Spotlight

FIDELITY Bitcoin First: Bitcoin is the store of value asset in an increasingly digital world

Crypto360 Spotlight FIDELITY Bitcoin First: Bitcoin is the store of value asset in an increasingly digital world

Fidelity Logo | stonegateglobalfundservices.comThe Digital Assets division of the $11+ trillion-dollar financial powerhouse, Fidelity Investments, released their January 2022 research report on the Digital Assets Market, dubbed Bitcoin First:  Why Investors need to consider bitcoin separately from other digital assets. 

The widely circulated report provides the industry some insight into both how Fidelity views Bitcoin and the overall digital assets landscape, and probably more importantly, how Fidelity will be positioning Bitcoin and other digital assets in their institutional and retail client portfolios, as they leverage their massive global footprint with over $4 trillion of discretionary assets with their 83+ million clients. 

Key highlights are as follows:

  • Fidelity validates Bitcoin as a (or actually the) monetary good and the store of value in the digital ecosystem, due to many reasons but supply scarcity and broad retail and institutional adoption are key underlying reasons.
  • Other digital asset plays such as DeFi, Staking, NFTs, Metaverse, etc. should all operate (and priced/valued) separately from Bitcoin as their ecosystems in many ways are not necessarily related to Bitcoin as a store of value.
  • STONEGATE GLOBAL’S PERSPECTIVE:  In our opinion, this report is a clear indication that Fidelity has now “validated” Bitcoin as being the store of value in the digital asset ecosystem and in the new digital economy.
  • STONEGATE GLOBAL’S SUMMARY:  It stands to reason that in leveraging its global footprint, Fidelity would seemingly begin integrating Bitcoin (and potentially other digital assets to a lesser degree) with its Digital Assets division into its traditional institutional and retail client portfolios across Fidelity’s overall asset management business.  Simply stated this is a significant milestone that will continue to have a major impact on Bitcoin and the overall digital asset market.

We hope you enjoyed our Crypto360 Spotlight on this exciting milestone for Bitcoin and the overall Digital Asset Market.  We issue interesting commentary on various crypto industry events, announcements and happenings.  As a key institutional crypto industry player, we have a unique perspective and insight into the crypto ecosystem.  If you’d like to continue receiving our commentary which will be released monthly or weekly at times, please feel free opt in for our newsletter.

John McCorvey, CEO – Stonegate Global

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John McCorvey | Stonegate Global

John McCorvey

John McCorvey is the Chairman and CEO of Stonegate Global, which is a fund administration and diversified financial services company, offering innovative fund administration solutions to investment managers, family offices and private high-net-worth individuals. Stonegate Global is recognized as one of the global leaders in cryptocurrency, having serviced crypto funds since 2013 including some of the largest and most well-recognized funds in the crypto space.