October 20, 2018By Robert Johnson
“We’ve been saying for a long time that one of the things that will get institutional investors involved in crypto is custody solutions...And they’re coming out with a world-class custody solution aimed at institutions...that’s just another check.”Said Novogratz. As reported by CrytpoGlobe:
“Novogratz also argued that institutions still don’t completely understand cryptocurrencies. Cryptocurrencies are bearer instruments, meaning that users personally hold the assets, and institutions are not used to this. Most of the time, a separate, trusted entity holds assets for investors. Quality custody solutions such as Fidelity’s means that institutions won’t have to worry about losing their cryptocurrencies due to improper key management.”This is great news for Novogratz, he made it clear that the price might take a while to catch up to the news though. Fidelity’s custody product won’t be up and running until the first quarter of next year and even then the investors might not be pouring in. They will most likely want to see Fidelity build a track record as an initial step and as their custody team gets more experience, more funds will come into invest. What are our thoughts? Do you think that 2019 is Bitcoin’s year? Let us know down in the comments below?