The crypto world is never short of action or activity and this time around, it has a lot to do with online trading. The recent activities in the prices of Bitcoin have once set the tongues wagging. Some analysts are already speculating that the bearish run in the crypto world may be coming to an end for real. Anthony Pompliano, founder of Morgan Creek Digital Capital expressed his thoughts on the latest activities in the sector.
Pompliano believes that it is not bad an idea that a timeframe for the launch has been provided. He said that there is a similarity between Fidelity and Binance and this operates in a way that both currencies are welcome in the crypto world. In terms of trading, pension endowments and other crucial packages, Fidelity is not going to worry itself about those at the bottom of the ladder. Their plan is to adhere to the major brands like Bitcoin and XRP. For those who are interested and ready to buy Bitcoin, this is surely good music to the ears.
Bitcoin, Perfect for Fidelity
Some believe with good reasons that Bitcoin is just a perfect fit for Fidelity. This same group of analysts says they are astonished by the way the crypto market took the news involving Fidelity. As for Fidelity, its spokesperson Arlene Roberts has said that the venture will remain focus and continue releasing services in the coming months. These services will be dependent on requests from customers, regulations and so on. But at the moment, Fidelity is devoting much of its resources to Bitcoin. Again, this is another good signal to those who want to buy XRP.
Fidelity is a big name in the financial industry and now it will be allowing its customers to be able to engage in the trading of major crypto assets such as XRP and Bitcoin. At the moment, Fidelity is giving offers of Bitcoin trading to just a few chosen customers and it is also having a plan for a major release in just weeks. Fidelity is very interested in focusing on the biggest cryptocurrencies by market capitalization.
Focus on the Big Brands
Pompliano believes that as far as trading is concerned, everyone has to take note of the fact that the institutional investors are not financial organizations, but the talks are about sovereign wealth funds, endowments, pensions and others. Pompliano says they do not consider the bottom 99% of the crypto assets but focus on Bitcoin and XRP from Ripple.
This is because these ones are the leaders with the massive market capitalization assets. He justifies the focus on Bitcoin as he repeatedly made reference to the huge market cap and says that if there will be further expansion, it will still be limited to the big crypto assets. As for the Binance hack, he stated that there was need for clarification as Bitcoin was not hacked but it was Binance, a private venture that was hacked. He also stated that it was the hot wallet section that was involved, with the cold storage remaining untouched.