Home Bitcoin NewsBitcoin Mining Fidelity Investments office “has a room full of Bitcoin miners” – Chepicap

Fidelity Investments office “has a room full of Bitcoin miners” – Chepicap

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The launch of a crypto custody service by leading financial firm Fidelity Investments is predicted by many to be a huge catalyst for institutional investment in the space. According to one insider, the pensions giant has in fact already made a significant commitment in Bitcoin, in a different way.

BTW Fidelity has a room full of bitcoin miners at their office. Cypherpunk AF!

— Justin Moon (@_JustinMoon_) May 25, 2019

According to Bitcoin developer Justin Moon, Fidelity has been investing in Bitcoin for a while now. Having a host of mining rigs set up inside the company’s office shows how much potential the team sees in BTC, and it has been previously claimed that CEO Abigail Johnson has been mining inside her own office since 2015 (as reported by NewsBTC). 

This is nothing new, everyone! Fidelity has been publicly mining for years – in fact a mining summit was just hosted to talk about mining efforts.

— Amanda Fabiano (@_amanda_fab) May 25, 2019

The company is headquartered in Boston, Massachussetts but has offices all over the U.S. and further afield. Observers on Twitter were debating which office this “room full” of BTC mining rigs is likely located in. Meanwhile, a tweet from a couple of months ago underlines just how passionate Fidelity’s employees are about crypto.

Also not new news – Abby talked about it in her consensus speech a couple years ago.

— Amanda Fabiano (@_amanda_fab) May 25, 2019

If it’s in Boston their paying an average of $240 / MWh with Gen + T&D, so it will be profitable in 2021. Long I suppose.

— Santiago Velez (@Santiag78758327) May 25, 2019

Fidelity’s cryptocurrency culture is bonkers. Literally hundreds of passionate advocates at every level of seniority at the firm. They have more people working on crypto than the 5 biggest crypto funds combined.

— Ari Paul ⛓️ (@AriDavidPaul) March 27, 2019

The crypto custody services from Fidelity are gradually being rolled out, offering the company’s huge network of institutional clients the opportunity to get some exposure to Bitcoin and the crypto space, in the most secure and straightforward way possible. Many have speculated that the recent price rally and rising BTC trade volumes could be partially explained by new institutional investment. With Fidelity’s launch to be completed within a few months, and the launch of Bakkt scheduled for July, this trend could continue well into the future.

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