The momentum of cryptocurrency market will continue for a foreseeable future, according to the Executives at Investment Gaint Fidelity.
Crypto has created a new chapter in traditional finance circles and things have reached a tipping point for the industry, according to Tom Jessop, who is the heads of the investment firm’s crypto division. He spoke at Marketwatch on April 8.
In coming years, the adoption and maturation of crypto assets as an investment will continue in a rapid spate. Extremely low rates in traditional finance is one of the reasons of the continued raising of crypto and in addition is the monetary policies of the environment and which has propelled crypto markets and the environment is unlikely to change. According Jessop:
“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,”
Jessop added the narrative has been exacerbated by the unprecedented monetary stimulus from central banks and governments in response to the pandemic.