This Is Fidelity's Bitcoin Investment Thesis

Plus some amazing statistics for your viewing pleasure

Happy Wednesday, Blockfolians

The Lede

Lots going on in the big ol’ world today. We’ve got the Federal Reserves FOMC meeting saying a whole lot more of nothing. The CEOs of Apple, Alphabet, Amazon and Facebook all testified before Congress.

The Fed Loves Main Street as Much as Wall Street This Time - Bloomberg

And over in our little corner of the financial world, Fidelity just dropped part one in its series on their Bitcoin Investment Thesis.

The whole report is worth a read, but the central focus is the idea of bitcoin as an aspirational store of value.

Here’s the money line:

External forces that are accelerating interest and investment in bitcoin include unprecedented levels and exotic forms of monetary and fiscal stimulus globally with unknown consequences.

Every time a brand like Fidelity publishes a piece like this, that aspiration gets a little more real.

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Highly Relevant Reading


Community Commentary

An awesome new project supporting bitcoin developers
Twitter avatar for @matt_odellMatt Odell @matt_odell
Spent the morning building this out with @DennisReimann. Introducing
bitcoindevlist.com. If you are working on a bitcoin project and currently accepting donations: submit a PR and get yourself added. If you are a bitcoiner: please consider supporting our builders! Image
According to a new survey, 15% of American adults own some cryptocurrency

A Really Big Number We Should Be Paying Attention To  

93%

That’s the percentage of all bitcoin holdings that are in the black - in other words, worth more than they were at the time of purchase or acquisition.


Final Thought

Seriously, we’re slacking.