By Justin Spittler, editor, Casey Daily Dispatch
Fidelity is entering the cryptocurrency market.
When it does, the crypto market will never be the same.
I say this because Fidelity is one of the world’s most important financial institutions. It has 27 million customers. It oversees more than $7 trillion. And it processes nearly 800,000 trades every day.
In other words, it’s big enough to move markets.
I bring this up because Fidelity recently sent shockwaves through the cryptocurrency market. It announced that it’s launching a separate company called Fidelity Digital Assets Services.
This business will handle cryptocurrency custody and trade execution for institutional investors. It will allow Fidelity to onboard its clients into the crypto space for the first time.
That alone is extremely bullish for the crypto market. But you should understand something.
• Fidelity isn’t alone…
All the major players on Wall Street are entering the crypto market.
At last week’s Legacy Investment Summit in Bermuda, Palm Beach Confidential editor and world-renowned crypto expert Teeka Tiwari told a room full of investors:
TD Ameritrade is coming in… Morgan Stanley is coming in… Citigroup is coming in.
These financial institutions oversee trillions of dollars and service the needs of millions of people. They’re the cornerstones of the global financial system.
But here’s the thing. Almost none of that institutional money has found its way into crypto assets. And there’s a simple reason for this…
The infrastructure to support institutional money isn’t in place.
• That’s about to change…
TD Ameritrade is preparing to launch a physical bitcoin futures contract… Morgan Stanley is creating a derivatives product that will provide exposure to the price of bitcoin… And Citigroup will soon offer crypto custody solutions to its institutional investors.
Of course, there are many more examples… But you see where I’m going with this.
The world’s most important financial institutions are getting ready to offer their clients crypto exposure for the first time ever.
Once this gets going, Teeka says we will see “a tide of institutional money” pour into the crypto market. It will be unlike anything we’ve seen. And that includes last year’s explosive rally in cryptos, which was driven almost entirely by retail investors.
This is obviously something you’ll want to be ready for. So, I’ll show you how to get in front of this tide of institutional money in a second. But let me first tell you why you should listen to Teeka.
• Teeka is one of the world’s most trusted crypto analysts…
His research has attracted the attention of high-level Wall Street money managers as well as some of the world’s leading cryptocurrency investors.
More importantly, Teeka has generated massive crypto gains for his readers.
Teeka’s bitcoin recommendation is still up 1,406%, despite the huge pullback in cryptos that we’ve seen this year. His ether recommendation is up 2,161%. Another one of his recommendations is up an astonishing 13,279%.
In short, it pays to listen to Teeka. And he says these major institutions are entering the cryptocurrency market for a simple reason.
There are massive profits on the line.
Just consider this…
• Binance makes more money than Deutsche Bank…
Binance is the world’s largest cryptocurrency exchange. But it’s not a big company by any means. It’s a start-up.
In fact, Binance isn’t even two years old and only has 200 employees. And yet, it recorded a $200 million profit during the first quarter of this year.
That’s $54 million more than Deutsche Bank—Germany’s biggest bank and one of Europe’s leading financial institutions—earned for the same period. And Deutsche was founded 148 years ago, and employs 100,000 people.
As if that weren’t crazy enough, consider this…
• Binance serves a tiny market…
The entire cryptocurrency market is only worth about $208 billion currently. And there are only 35 million crypto buyers worldwide, according to Teeka.
The global stock market, on the other hand, is worth around $100 trillion… and there are more than 500 million stock investors worldwide.
In other words, a small percentage of “traditional” investors currently owns cryptos. But that will change, once companies like Fidelity, TD Ameritrade, and other Wall Street giants make crypto products available to their clients.
This is why Teeka told a room full of investors in Bermuda that “we’re in the middle of the greatest wealth-building event of our lifetime.”
• Simply put, this is not an opportunity you can afford to miss…
So, consider speculating on cryptocurrencies before the Wall Street money piles in.
I suggest starting with bitcoin. It’s the most established and widely used crypto in the world.
Plus, all of the big Wall Street players are working on bitcoin products first and foremost. This is where the coming wave of institutional money will hit first.
In short, it offers the best risk-reward potential of any cryptocurrency out there. Still, bitcoin isn’t without risks. Treat it like a speculation, and only bet money that you can afford to lose. Don’t obsess over day-to-day moves. And perhaps, most importantly, have a long-term time horizon.
Investors who take these measures set themselves up for huge returns, without exposing themselves to crippling losses.
New York, New York
October 23, 2018
P.S. And make sure to read these recent essays from Teeka to learn even more about the coming crypto boom and how to take advantage…
Today, more readers share their thoughts on Doug Casey’s essay on the recent corruptions of the English language:
Why are we calling homosexuals “gay”? It’s a P.R. move to make them more touchy-feely (another two words that are weird, to say the least). I can’t stand the misuse and appropriation of the word “gay.” Thanks for letting me pitch in my two cents.
So, “issue” is now the most misused word in the language. It does not mean problem, trouble, cause, or position. It does refer to a matter in dispute. People say they support an issue but are unaware that the only way to actually do that is to sponsor a debate. Overstating the matter just a tad, I’ll say that the word “issue” is now employed as a synonym for most other words in the English language.
Thanks. Great article. “FRANKLY” used to be a good word, but now politicians use it several times in each speech and I now dislike the word!
This should be a required university primer.
This is the best Casey article I have read in some time. 100% agree.
And as always, if you have any questions or suggestions for the Dispatch, send them to us right here.
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