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Fidelity Bets Big On Bitcoin On CNBC

Fidelity Bets Big On Bitcoin On CNBC

pFidelity Bets Big On Bitcoin On CNBC hey everyone this is Cameron from crypto cam hope everybodys having a fabulous day today more news that Wall Street is embracing cryptocurrency and Bitcoin fidelity is now allowing their customers to integrate their coin based wallets onto their fidelity comm website check this great article out from CNBC as they discuss two weeks ago so Im already a jeanmichele heres the composite we use new in project it right at me duplicate all enemies away one 2012 20 2300 I for something on it so I got is a gratification I should probably be off the white would you know me I know I wont look at our back to Brian for a second time why fidelity Brian would put up on its website the ability for people to wear what is that theyre legally do now check the price of Bitcoin transaction is what happen here so youre going to be appointments with essentially a big point brokers similar to your hospitality has their online brokerage thats basic you with point basis whence abilities other things they hooked up with them you can see your balance your point balance in your fidelity account so youre watching our theyve been experimenting with this for a while theyre accepting it in their on cafeteria after Johnsons of CEO fidelity is a big big point believer if you will yeah I know there was enough in the backgrounds aligning so you know theres and I think they share the view that I share because this is an entirely new asset class of wolf but for thats okay Josh what if I were cynical and said hey fidelity put any great job of using this Bitcoin thing it seemed really cool and you know attract Millennials remember to its website and you know maybe theyre really doing them a disservice if theyre in the idea this is just bullet riddling investment as you know Ruby Church whole typical oldschool investments for retirement travel youre asking the right question and I think its important to point out two things the first is fidelity has already been stumped and it aint going to happen again by the idea that they can just sit back keep them what theyre doing and will be better be the things will happen around them and its okay they miss BTS they have this spartan brand of index funds it clipped an enormous critic three or four trillion dollars instead they let State Street Blackrock and Vanguard run away with the whole game and that would launching some stuff but its for exactly that and I dont think that they want to see is to repeat itself so it is important that the Delhi labs which is like their internal support here I bet you call it is smart to be letting viewers see their Bitcoin but lets be clear they are not letting to transact you still need to have a coin base account outside of developing old are doing is bringing in the value of how many wrong what its priced might have done Jo yesterday and showing you that walk side the brokerage account they are not in the business of transacting Bitcoin I dont have for distinction I think maybe I can actually want our person is a woman battalion said I mean visits fidelity saying hey let us see what what do you have in terms of money away from the firm well the answers did Bitcoin turns and a little bit thats purely the motivation so cynical nothing good about Josh I do think they were just to your point the ability and the remnants annuities ilk are participating in it is Peter and defensive or externa mentor what they like all of us dont really know where this is headed is the normal to be useful for what its not the total Bitcoin of when I get water market catheter straight face the total amount of US dollars correctly denominated big point the coin cap is like fifty or sixty billion dollars so theres not a lot of money there for fidelity to move over so Im gonna look like that typical but it have a window into it and they are showing their customer that theyre on the edge and that they click the accent orbital these are our suave include they have to be seen at the quarterback at the best percent away or assets all over the place and I so brightly bring in your new I have we bashed it too much or DNA no but Josh isnt pretty evenhanded I thought you say its kind of a you know the Wizard of Oz about this Bitcoin stuff well I mean so that theres no point here to this point they first of all its more than just occurrence because this is like investing in the Internet in 1900 you could buy a piece of the internet so I agree with you guys in a sec you know fidelity needs to be a millennial census or weve added product and have an idea of what Millennials are done to be but this is the millennium millennium millennial investment keeper indicated for the next couple decades I mean thats what is this way you may be analogy that youd want invest in in the night a lot of people did that and got burned as a result I mean just because bitcoin owner is a new solar panels and class and resource structure of blockchain totally I think you put investing probably municipal sewer and water systems and Ive done somewhat better than if you just been you know the next McMansion I Drive my appointed isnt blockchain the real transformative technology and Bitcoin and all of these other coins are just an interesting newell project by the way still has high transaction cost thats what everybody is ripping about that blockchain is the technology behind this but bitcoin is the economic incentive to run the network without it all you have is a really fancy database so what people are missing here is this is not centralized decentralized so how do you economically obsess about somebody to actually wont work and you do it with the clothes that the enzyme simple images that things you go back to what fidelity is doing here Brian do you know from your point of view disabilities being involved in this do anything to be added does it help legitimize like what do you think is the importance for the Bitcoin those when a mentor or is it relaxed so it is its extremely relevant book so that we have the best packet and so putting that brand on Bitcoin it is extremely helpful it adds a really sort of chooses to the asset class so its a huge move forward and I think you know it was very still this kind of winning and winning a bunch of other educational and comfort projects that people need to get this used to in this asset class and it came from fidelity having it there to be able to see it is it you know credible thats why you know Josh I hope they dont judge why did you certify and a couple weeks ago I dont know if Im comfortable with the term asset class because I suppress implies that theres some sort of asset document or some sort of cash flow so we could say we expect this much cash flow from our investment in this Africa and then this count back what we think we should pay for it today I dont know if Im quite there yet yeah Ryans a prime for disruption hippie and thats fine and I might end up where he is today Im just not there however this is the main thing I think the regular investors who dont quite work in a rocket pack should be thinking about anytime something refuses to die after crashes Hawking breakins the Silk Road scandal it just will not die and so just totally based on that resilience without answering for Joe agility what what a failure cause youve got to I mean does that mean does that mean take a substantial portion of your network and grow it at digital point the Christmas : tactic was I dont know good idea however get comfortable get comfortable to exacting buying oh they dont completely ignore it just in case Brians life my opportunity sellout commit thats taken a lot of fried calories okay prior to telling a job sprout is a pleasure I really appreciate it Thank You Nick we cant know Im Johnny but theres something to be said addresses for psychological hedge you know go buy a Powerball ticket just in case just someones gonna win but I dont think its anything I respect Joshs point but just if you dont understand it fully hopes up okay yeah doesnt mean its wrong or not a lot of cities are all quiet a release quieter again thanks for watching another great article from cryptic town so if you like this article please give us a thumbs up and hit the subscribe button below now to make sure you receive the latest content from our Channel tap the bell icon buy it see you soon byep

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