BREAKING: FIDELITY PRESIDENT LAUNCHES NEW BITCOIN FUND; $100,000 BTC MINIMUM BUY-IN PRICE!!

➡️ Leverage OPM (Other People's Money): http://opm.cryptonewsalerts.net

One of the largest mutual funds in the U.S., Fidelity Investments, is enhancing its efforts in the Bitcoin and crypto space with its chief strategist, Peter Jubber, starting an institutional-grade and high net worth clients-focused BTC index.

According to a filing sent to the Securities Exchange Commission (SEC), Fidelity Investments has launched a new Bitcoin index fund, ‘Wise Origin Bitcoin Index Fund I, LP’ that targets high et worth investors and institutions.

A $100,000 minimum buy-in value is required by the index fund following the demand by corporations and accredited investors on Wall Street on cryptocurrency investments.

The Wise Origin Bitcoin fund was launched by the head of strategy and planning at Fidelity Investments, Peter Jubber, in conjunction with the mutual fund’s brokerage and distribution divisions.

The fund aims to provide a gateway for accredited investors on Wall Street to dip their feet into crypto.

Fidelity is known for its soft stance on crypto investing, owning stakes in crypto companies such as Canadian mining firm, 8Hut, and providing custodial services to institutions.

Jubber, also a well-known enthusiast and evangelist of Bitcoin and blockchain, in 2017 said the firm was sketching out a decade long plan on the impacts and opportunities that blockchain technology offers to traditional finance.

Peter will lead the ‘Wise Origin Bitcoin Index Fund’ as the executive director and FD’s Fund’s president. Reports on Forbes also confirm that a Delaware based firm, FD Funds GP will become a general partner to Fidelity’s new BTC fund.

Fidelity’s reports on the cryptocurrency market this June showed that over 36% of big institutional investors were taking up digital assets, and another 80% of them stating they find crypto appealing.

Moreover, a recent report by the mutual fund concluded there is an increasing interest in Bitcoin as a store of value with the world’s witnessing unprecedented fiscal and monetary policies.

In other trending Bitcoin News today:

Stablecoin metric hints Bitcoin price will rise as buyers snap up BTC!

At $11,400, Bitcoin (BTC) is ripe for a fresh price surge thanks to stablecoin investors buying up cheap coins, data suggests.

Highlighting the latest readings from its stablecoin supply ratio (SSR) metric on Aug. 26, on-chain monitoring resource Glassnode forecast upside for BTC/USD.

SSR refers to the potential buying power of stablecoins over Bitcoin. A low Bitcoin price allows stablecoin owners, for example, on exchanges, to purchase more of the BTC supply. This demand pushes the price of Bitcoin up, given its predictable, verifiable supply and high stock-to-flow ratio.

As the price increases, stablecoins, which remain priced the same in whichever fiat currency they are pegged to, can buy less of the BTC supply.

The ability to enter a BTC position is called “buying power.” Currently, that buying power is high, meaning stablecoin owners can purchase a comparatively large amount of the supply.

“SSR is 3x stronger than it was when BTC hit these price levels over a year ago,” Glassnode commented.

In another tweet, the firm noted that the largest stablecoin, Tether (USDT), was conspicuously primed to enter such positions.

“Further support comes from an increase in the $USDT (ERC20) balance on exchanges over the past year — indicating that stablecoins are waiting on the sidelines.”

Tether’s market cap passed a landmark $10 billion in July. In terms of average daily transfer value, USDT beat both Bitcoin and PayPal this month.

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Show Notes / News Resources:
- Fidelity $100K Bitcoin Fund: https://bit.ly/3gApYVY
- Bitcoin Stock-to-Flow: https://bit.ly/3aYQirU
- MicroStrategy Investments: https://bit.ly/34Ds1Xe
- PlanB: https://bit.ly/31vukcT

DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky and so is investing into Cryptocurrency. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

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