- Fidelity’s rivals have already started supporting Bitcoin and other crypto.
- The WSJ recently reported that Fidelity now has more than 34 million customers.
According to the WSJ, Fidelity is thinking about allowing its customers to trade cryptocurrencies like Bitcoin. Though the cryptocurrency market has had a hard year, this announcement comes as interest from Wall Street persists.
Fidelity, a financial services firm, stated earlier this year that it will start accepting bitcoin as part of the 401(k) plans it handles for businesses. These customers may now engage in Bitcoin trading.
Fidelity’s rivals have already started supporting Bitcoin and other cryptocurrencies on their platforms. In recent months, Robinhood has expanded its currency exchange to include a wider range of fiat and cryptocurrency options. This ensures that the financial behemoth remains in sync with the rising tide of investors eager to add cryptocurrency to their holdings.
Offering Clients Options
During a session at the SALT New York conference, Mike Novogratz, CEO of cryptocurrency investing company Galaxy, said that Fidelity was making moves to provide cryptocurrency to retail consumers. On Monday, there was a discussion panel focused on institutional involvement in the cryptocurrency market. The Wall Street Journal recently reported that Fidelity now has more than 34 million customers. There are no firm plans, but they are probably going to start looking toward Crypto expansion around the end of 2022.
Bitcoin has gained traction as a medium of exchange and a store of value, but regulators and established institutions still have a ways to go before they can fully grasp or embrace the cryptocurrency. But one might say that Fidelity is oblivious to the buzz of the ecosystem and keeps cranking out fresh takes on customer service.
According to CMC, the Bitcoin price today is $22,264.02 USD with a 24-hour trading volume of $46,783,504,106 USD. Bitcoin is up 0.30% in the last 24 hours.
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