Banking Giant Fidelity Favors Bitcoin Technology

The crypto space continues to experience wild market volatility that made crypto assets break out from their uptrend position. Despite this scenario, some digital assets remain strong against the bearish market. Bitcoin is one of the cryptocurrencies is the space that keeps defying the bearish market. As a result, Bitcoin catches the attention of private companies such as Fidelity. This made Bitcoin Magazine react in a tweet post,

The tweet stated the views of the banking giant Fidelity towards Bitcoin. “ Bitcoin should be considered separately from other digital assets.” The tweet gathered different emotions and reactions across the Twitter community. Some are bullish about it while others have different opinions.

Meanwhile, Fidelity also posted on their own website their understanding about Bitcoin technology. For instance, they stated that Bitcoin is fundamentally different from any other digital asset, Bitcoin is best understood as a monetary good, and other non-Bitcoin projects should be evaluated from a different perspective than Bitcoin are some of the explanations they provide.

On the other hand, Bitcoin trades at a decent price below $40k with a +7.6% growth rate in the past 7 days. It has a market capitalization amounting to over $700 billion and a 24-hour trading volume of more than $16 billion. This market performance made Bitcoin the number one crypto asset in the space.