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Fidelity Investments, one of the world’s largest asset managers, has announced that it is adding cryptocurrency to its investment portfolio. The move marks a major shift in the investment landscape and could signal the beginning of a new era of mainstream acceptance of digital assets.
Fidelity has been actively exploring the cryptocurrency space for some time now and has already launched its own cryptocurrency trading platform, Fidelity Digital Assets, back in 2018. However, this new move marks the first time that the company has added digital assets to its own investment portfolio.
The new portfolio will include a variety of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. Fidelity has stated that its decision to add these digital assets to its portfolio was based on its belief that they offer investors a new way to diversify their portfolios and potentially generate higher returns.
The addition of cryptocurrency to Fidelity’s investment portfolio is a significant move that could have far-reaching implications for the industry. For one, it demonstrates that a major financial institution has the confidence to invest in digital assets, which could encourage other institutions to follow suit.
Furthermore, it could also signal the beginning of a new era of mainstream acceptance of cryptocurrency. While there are still many regulatory hurdles to overcome, this move by Fidelity is a major step forward in terms of legitimizing the asset class and making it more accessible to the average investor.
Fidelity’s move is also likely to have a positive impact on the cryptocurrency markets. The addition of a major institution to the cryptocurrency space will likely increase demand for digital assets, which could lead to higher prices.
Ultimately, the addition of cryptocurrency to Fidelity’s investment portfolio is a major milestone for the asset class and could be the beginning of a new era of mainstream acceptance. While there are still regulatory hurdles to overcome, this move by Fidelity is a major step forward in terms of legitimizing the asset class and making it more accessible to the average investor.
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