Fidelity Research Suggests that 50% of Institutions are Crypto-friendly
By Mark Lemon – Cryptocurrency Professional
Fidelity Investments have recently released a survey report that suggests 50% of institutions are friendly towards cryptocurrencies, blockchain and even buying and selling Bitcoin due to some of their attractive characteristics.
Out of the many institutions that responded, 47% appreciated that digital assets are an innovative technology play. They believe buying and selling Bitcoin online with its advantages could be incorporated into their infrastructure for greater efficiency. The low correlation to other assets was also cited as a positive characteristic as the economics of chains function independently to others.
Value is mainly derived in the concept of the project and what the digital asset can achieve as an alternative. Both financial advisors and family offices were stated in the survey to favour the characteristics the most with 74% and 80% respectively. Many financial institutions already know the benefits and speed of cashing out crypto to cash as opposed to traditional stocks and shares.
The survey goes on to state that 22% of institutional investors have already gained some exposure to cryptocurrencies with four in ten suggesting they are interested in future investments over the next five years. We could see a lot more crypto selling and buying as adoption of the technology increases and more types of institutions gain exposure.
47% of the institutional investors surveyed see digital assets as having a place in their investment portfolio, yet 76% place security and safety as the most important consideration when looking at custodians. Without solid institutional grade infrastructure in place for the safekeeping of assets, many institutions may not expose themselves to buy or sell cryptocurrency.
The research suggests that institutions have an appetite for investing in cryptocurrencies but are still concerned with volatility and security. With further development of the infrastructure for greater protection of users’ assets, we could see more institutions exposing themselves and acquiring cryptocurrency.
Don’t forget to head to our platform if you’re looking to cash out Bitcoin to GBP or to keep up with the latest articles in the crypto space!
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards