According to Tom Jessop, head of Fidelity Digital Assets, Bitcoin adoption has reached a „tipping point” thanks to an environment of „unprecedented monetary and fiscal stimulus.”
Speaking at the Investing in Crypto virtual event series hosted by MarketWatch and Barron’s, Jessop pointed to „a host of reasons” for the adoption of digital assets to proceed „at an accelerated pace.”
These include near-zero interest rates and easy-money policies—something the US Federal Reserve, as recently reaffirmed by its chairman Jerome Powell, has committed to until the economy has recovered from the coronavirus pandemic.
„We’re not going to get out of this stimulated environment anytime soon,” Jessop said. „I think we’ve reached a tipping point.”
According to Jessop, these measures, while considered necessary by the Fed, are driving investors to Bitcoin and other assets—which they see as alternatives to scant yields offered by bonds and other „richly priced” investment vehicles.
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