BTC to be $25k By The End of The Year, Tom Lee Says

New forecast from Fundstrat co-founder and Wall Street analyst
01 March 2018   687

Fundstrat co-founder and Wall Street analyst Tom Lee confirmed his forecast that by the middle of the year the price of bitcoin will reach $ 20,000 and $ 25,000 towards its end. He also expects that at least three corporations whose shares are traded on stock exchanges will issue their own crypto-currencies in 2018. This is reported by CNBC.

In his report, the analyst repeats the forecast he gave in January, when he said that bitcoin could "easily double" this year.

Despite the fact that now bitcoin costs twice less than the highs recorded in December above the level of $ 20,000, Lee is sure: this year bitkoin will return to this mark and even rise above it.

The announcement by Rakuten is another example of positive developments in crypto in 2018, suggesting the large sell-off in bitcoin and others at the start of the year was an overshoot to the downside.

Tom Lee

Co-founder, Fundstrat

Lee sees in this trend a sign that supports his forecast at the rate of bitcoin. He also recalled that Japanese online retailer Rakuten recently announced plans to launch his own crypto currency, adding that this step is a sure sign that the crypto-currency space continues to develop despite the correction of bitcoin.

Lee also expects that several large companies, perhaps even Starbucks, Facebook or Amazon, which were not previously represented in the crypto-currency sector, will start using blockage this year.

The analyst recalls that the chairman of Starbucks recently allowed the use of blockage in the company's new payment application, and suggests that Facebook and Amazon "announce a crypto-currency strategy this year."

Fidelity Investments to Launch BTC & ETH Platform

New platform is designed for institutional investors
16 October 2018   137

One of the world's largest asset managers, Fidelity Investments, announced the launch of a unit focused on providing institutional investors with Bitcoin and Ethereum services. The Forbes reports.

The new division received the name Fidelity Digital Assets and, possessing a staff of 100 employees, will provide a platform for trading cryptocurrencies and consulting services 24/7.

The platform already has first customers, but its launch for a wider range of investors is scheduled for the beginning of 2019.

This is a recognition that there is institutional demand for these assets as a class. Family offices, hedge funds, other sophisticated investors are starting to think seriously about this space.

Tom Jessop

Founding head, Fidelity Digital Assets

In particular, Fidelity Digital Assets will offer a transaction service that, using internal cross-connect and order routers, will trade through third-party liquidity providers.

One of the most popular offers by the company can also be a service for storing Bitcoin and other cryptocurrencies. It is physical storage, distributed in different geographical locations and offering the so-called "cold" storage of digital assets. This way of storing cryptocurrencies without access to the Internet and with a multi-level control system is considered to be one of the safest and most resistant to hacking today.

As the CEO of Fidelity Investments, Abigail Johnson, said, the goal of the new platform is to make digital assets like Bitcoin more accessible to investors.

Fidelity Investments is considered the fifth largest asset manager in the world, offering investment and custody services to 13,000 consulting firms and brokers. In total, the company manages assets worth $ 7.2 trillion.