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Bloomberg: Fidelity Will Start Trading Bitcoin Cryptocurrency

American financial company “Fidelity Investments” plans to start buying and selling Bitcoin cryptocurrency (BTC) by request of institutional clients. An anonymous source told to Bloomberg, the company is going to launch BTC trading in a few weeks.

In October 2018, the company created the Fidelity Digital Assets platform, which provides Bitcoin storage services. Last year, the firm announced its intention to start OTC trading of BTC. However, unlike the E-Trade and Robinhood sites, the Fidelity service will be available only to institutional investors.

Company spokeswoman Arlene Roberts said that Fidelity will develop new services in accordance with the needs of consumers. According to the publication, 47% of institutional clients are interested in cryptocurrency investments. There is an increased demand for virtual currency, so Fidelity will provide digital asset trading services.

Many investors don’t want to invest in digital assets, because there are cases of fraud and theft of funds in the crypto industry. In addition, the market of virtual currencies is subject to manipulation, which means that crypto-investment carries an increased risk. The overwhelming majority of large transactions on the purchase and sale of virtual currency are carried out during OTC trading, and therefore do not affect the value of the asset. Thus, we can conclude that all significant fluctuations in the rate are pump or dump schemes.

Fidelity plans so far refer only to Bitcoin. For 2019, the coin increased by 56%. If the current growth rate does not change, then the BTC rate will reach $6,500 by the end of May, according to Bloomberg forecasts.

We remind you:

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