‘Coming To 34 Million Accounts’

After Monday’s wipeout, crypto prices turn mixed.

Over the past week, the bitcoin price soared 4.9%, at one point hitting a high of just over $22,500. Most major altcoins are recovering too. Ethereum’s price jumped a few percentage points, Cardano
ADA

ADA
is up 0.8%, Solana
SOL

SOL
rose 4.8%. XRP
XRP

XRP
and dogecoin are up 2.5%, 0.1% while shiba inu and BNB
BNB
down 1.5% and 1.4%.

Meanwhile, rumor has it bitcoin will soon take yet another step to mainstream adoption.

People familiar with the matter told Wall Street Journal that Fidelity, the world’s fourth largest asset manager overseeing $4.3 trillion in assets, is planning to let individual investors trade bitcoin.

This Monday, Mike Novogratz, CEO of Galaxy Holdings, one of Fidelity’s first crypto clients, said at a conference: “A bird told me that Fidelity, a little bird in my ear, is going to shift their retail customers into crypto soon enough.”

If the gossip comes to pass, it will mark Fidelity’s final step toward “mainstreamizing” bitcoin as an asset class to its massive 84 million investor base.

During the Covid crypto boom, Fidelity was one of the first asset managers to launch a private crypto fund for accredited investors. Then earlier this year, Fidelity was the first institution to add bitcoin to 401ks.

And now bitcoin is coming to its 34 million brokerage accounts.

Zooming out

What does Fidelity’s vote of confidence mean for…