Fidelity’s Crypto Branch Adds 70% Staff, President Sees “More Interest in Ether” – Bitcoin News
According to Tom Jessop, president of Fidelity Digital Assets, the company plans to increase its staff by 70% as the demand for cryptocurrencies continues to occupy the company. Fidelity Digital Assets, the subsidiary of asset management company Fidelity Investments Inc., is also seeing significant demand for Ethereum.
Crypto Demand Is Driving Fidelity Digital Assets To Increase Staff
According to a Bloomberg interview with Tom Jessop, Fidelity Digital Assets is looking to increase the workforce at its Boston, Salt Lake City and Dublin locations. The new hires will be dedicated to developing new products that span other areas of crypto assets besides Bitcoin.
“[2020] was a real breakthrough year for space given the interest in Bitcoin that accelerated as the pandemic began, “said Jessop. But Jessop also added:
We’ve seen a greater interest in ether, so we want to be ahead of that demand.
The company will also trade more often with digital currencies, stressed Jessop. He explained that unlike traditional markets, crypto trading is a 24/7 environment. “We want to be in a place where most of the week is full-time,” said Fidelity Digital Assets in its interview.
The President of Fidelity Digital Assets describes new types of institutional demand
Jessop went on to explain that institutional zeal for crypto assets still exists and is growing. The president made it clear that hedge funds and family offices are asking the company for services. Today, however, Jessop stated that corporations and pension insurance companies are also entering the crypto world.
The President of Fidelity Digital Assets interviewed Matthew Leising, a Bloomberg employee who regularly covers the crypto scene. A few years ago, Leising wrote an article claiming that Satoshi Nakamoto was supposedly writing a book. Last year, Jessop stated that Bitcoin is not yet a true store of value, but he remained confident that the leading crypto asset would achieve this status.
The Jessop interview with Leising underlines that Fidelity Digital Assets seems to have a focus on other digital assets besides Bitcoin (BTC). “Bitcoin was the entry point for many institutions,” concluded Jessop in his interview. “It really opens a window to what else is going on in the room now,” he added.
What do you think of the last interview with Tom Jessop, President of Fidelity Digital Assets? Let us know what you think on this matter in the comments below.
Photo credits: Shutterstock, Pixabay, Wiki Commons, Fidelity Investments Inc.
Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement for any product, service, or company. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
source https://bidsfor.me/fidelitys-crypto-branch-adds-70-staff-president-sees-more-interest-in-ether-bitcoin-news/
Comments
Post a Comment