Fidelity CEO Abigail Johnson thinks it’s time to buy more cryptocurrencies as the market has been bleeding. It seems to go with Warren Buffett’s saying- “Be fearful when others are greedy, and greedy when others are fearful.” Johnson says that when everyone is getting out, it’s time to double down on it. So, where is this coming from? For most of us, this is our first crypto winter; however, for her, it’s the 3rd. Johnson has already seen some much volatility in the market that it looks like an opportunity to her.
Crypto winter is an opportunity
Abigail says that if you believe in the fundamentals of something and in its long-term potential, then it would be wise to double down when everyone is getting out. This doesn’t change the fact that the current crash and the market cap that crypto has lost feel bad. However, she thinks that there is a lot to come in this industry.
It is often said that real money is made in the bear market. After all-time highs, when the consolidation phase begins, investors have the opportunity to buy and stack up for the next bull run. It’s important to choose projects wisely during this time as a lot of them might also disappear in the next few years.
Fidelity Investments & crypto
Fidelity Investments is contributing a lot to the crypto community and has introduced Bitcoin to 401(k) retirement accounts. They are also focusing on offering investment services to institutional investors and are even continuing their hiring spree in this bear market.
The offering of Fidelity investments raised many questions about the idea of allowing BTC to retirement savings. However, it didn’t seem to affect the fact that they are still offering it. In fact, the US Labor department faced a lawsuit over their unlawful crypto guidance. They were trying to threaten companies that are offering BTC for retirement accounts. This is against the idea that people can invest in whatever they want for their retirement.
What are your thoughts as Fidelity CEO says it’s time to buy more cryptocurrencies? And do you also believe that the real money is made in a bear market? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
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