Fidelity: hyper-bullish on Bitcoin, but wasn't it just a "bubble"?

By Roberto D. | CryptoFarm | 6 Feb 2020

Fidelity Investments, is the fourth mutual fund and pension fund manager in the world, with a portfolio of 2700 billion managed only in 2019, founded in 1946 is not exactly what is defined as irrelevant.

We talk about it because his branch dedicated to digital asstes shared a hyper-bullish report on bitcoin via twitter.

In short, we have spent the last few years hearing the "experts" babbling with bubbles that would burst, with ponzi schemes, with a currency without intrinsic value, whose real value (experts always say) is zero and now the fourth manager of funds to the world tells us that its price is ready to skyrocket again.

Fidelity In the USA it is so important that it is considered as an institution and the cryptocurrencies are so useless (they are obviously ironic) that Fidelity decided, a year ago, to open a new branch of the company (Fidelity Digital Assets) that it only deals with this.

Fidelity posted a tweet a few days ago sharing an article by Parker Lewis entitled "Bitcoin makes all the other coins obsolete"; strange, and who would have thought it, wasn't it just a bubble?

Obviously, sharing does not indicate total and absolute adherence to the concepts expressed in a given report or article, however it is evident that each of us shares the material that we consider interesting and worthy of being elected; if Fidelity had not deemed it important to read the piece by Parker Lewis, he certainly would not have shared it with his 260 thousand followers.

We are not interested here in taking up the concepts expressed by Parker Lewis in his article, also because they are things that normally every bitcoiners already know, but we find it interesting to point out the distance between some financial institutions and what we then read in the newspapers ; It is interesting to note that Fidelity prefers to share Parker Lewis' article rather than that of the mainstream journalist who defines bitcoin as a scam, a merely speculative bubble, something to keep absolutely away from unless you want to lose all your possessions and, even respectability.

While large parts of journalism continue to brand the world of cryptocurrencies as something completely useless, devoid of concrete use cases and which can only be of interest to mafias and criminals of all kinds, the largest financial institutions in the world look with increasing interest in bitcoin and "its sisters", moving faster and faster on the same positions held by bitcoiners from the beginning.

This should make you think.

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