Here's the Most Bullish Thing That Could Happen to Bitcoin, According to Mike Novogratz

News
Thu, 10/24/2019 - 15:00
Alex Dovbnya
The Galaxy Digital boss says that Fidelity allowing its customers to buy Bitcoin could be the most bullish thing for crypto
Cover image via www.bloomberg.com
Contents

During a recent interview with 'Squawk Box,' Galaxy Digital CEO Mike Novogratz opined that if Fidelity allowed its customers to buy Bitcoin, that would be the most bullish thing for Bitcoin.

Related
Fidelity Plans to Expand Crypto Trading to Coins Other than BTC, ETH

"The most bullish thing would be for Abby Johnson to say 'all my 26 million users can now buy Bitcoin on my platform.' Hasn't happened yet." 

Small steps

Fidelity strarted dabbling back in 2013 when it opened a mining farm.

Since then, the mutual fund giant, which controls nearly trln, has upped the ante by launching its digital asset division back in 2018.  

As reported by U.Today, Fidelity recently started rolling out its cryptocurrency custody service. It seems apparent that it wants to spar with Coinbase for the dominance in this rapidly growing market niche  

During her interview with the Financial Times, Abigail Johnson thew some major shade at the San Francisco-based company, claiming that few people have heard its name. 

Related
Bitcoin and Gold Should Be Driven by Same Macro: Galaxy Digital CEO Mike Novogratz

Bitcoin's adoption problem

Despite turning ten in 2018, Bitcoin has so far failed to achieve mainstream adoption outside of pure price speculations. This serves as the main argument for the coin's doubters. 

If visionaries in the likes of Johnson choose to jump feet-first into Bitcoin, it would finally get the exposure it desperately needs. 

As reported by U.Today, Jeffrey Sprecher, the owner of the Intercontinental Exchange, recently launched Bakkt, which allows trading physicially settled Bitcoin futures.

Subscribe to U.Today on Twitter and get involved in all top daily crypto news, stories and price predictions!

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy