Fidelity Digital Assetselity Digital Assets – the crypto custody and execution-focused division of US financial services heavyweight Fidelity – reportedly believed retail investors will shift their interest to crypto.
Specifically remarked by Fidelity Digital Assets, as social media platforms are reportedly contributing to the process of raising awareness and familiarity for the general audience, concerning Bitcoin and crypto offerings, the prospect of retail investors paying increasing interest in said assets will be “undoubtedly”.
Particularly, major social media platforms, nominally Twitter, Reddit, Telegram, YouTube, and Tik Tok, are reportedly helping boost the retail adoption rate of Bitcoin (BTC).
“Bitcoin is reflexive. Price and sentiment experience a self-reinforcing effect.” Fidelity report reportedly read.
The report also mentioned information provided by The TIE, a sentiment analysis company, displaying that a surge in mentions of Bitcoin across social media will greatly contribute to the incline of values for the digital currency.
Fidelity Digital Assets identified the “retail resurgence” across traditional markets, via the increasing appearance of platforms looking to simplify trading, presumably also well-known platform Robinhood.
The report also reportedly pointed out the surge in numerous wallets having no more than one Bitcoin in its possession and are on the rise, showing that retail investors are more and more viewing the asset as an “aspirational” investment.
“What is unique about Bitcoin is that it’s retail driven. Financial media and the way people consume investment information is changing, and influencers command more attention than institutions.”