Binance CEO Asks: What if Fidelity Gives Their %5 Portfolio to the Crypto
We are hearing more and more about institutional investors in the cryptocurrency market each day. Most recently, Binance CEO Changpeng Zhao also joined the conversation with his one tweet. Zhao, who is the founder of world’s biggest cryptocurrency exchange by daily volume, stated on Twitter:
What happens when a fund like Fidelity allocates a mere 5% of their portfolio to crypto? Have you calculated how much that is?
Considering Fidelity almost own $7.5 billion at their disposal, their %5 proposed investment could almost triple the entire cryptocurrency market cap.
People are wondering can Fidelity will give an access to the institutional investors. The answer might be yes because when such a giant like Fidelity opening a crypto arm, then it has to be considered as a huge news.
After Mike Novogratz and Goldman Sachs made a significant investment at cryptocurrency custodial company Bitgo, we can expect this trend to follow this soon. If custodial problems will become much more easier to access, we can expect the more institutional money to flow to space soon enough. But only time will tell what happens next, especially in the cryptocurrency markets.