Bitcoin Forum

https://news.bitcoin.com/fidelity-integrates-coinbase-mines-bitcoin-21-inc-computers-accepts-bitcoin-at-cafeteria/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications (https://news.bitcoin.com/fidelity-integrates-coinbase-mines-bitcoin-21-inc-computers-accepts-bitcoin-at-cafeteria/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications)

This is some seriously good news, Fidelity Investments is embracing bitcoin, mining bitcoin, and accepting bitcoin for payment at their office cafeteria.

Fidelity is one of the oldest and more conservative investment houses. Their interest in Bitcoin normalizes the idea on a significant scale, not just for other businesses but for the millions of people that have investments with Fidelity.

This is great news!

This is definitely a good news since Fidelity is a big company and they will become a pro bitcoin. But still we have to wait until the consensus will be made on August. After the consensus the Fidelity investments will hopefully announced their acceptance and adoption of bitcoin as part of their business. But let us wait what will happen since anything may happen anytime.

Yes, good news indeed. If such an institution recognizes and decides to include bitcoin in its business, then that sends out a really strong message.

for those of you who are like me and don't live in US and have no idea what the heck Fidelity is: https://en.wikipedia.org/wiki/Fidelity_Investments

i think this is great news for bitcoin's popularity and in long term the price rise and also the way general population looks at bitcoin.

but i don't think it is good at all for bitcoin as a currency. i mean it doesn't matter if their cafeteria accepts bitcoin from their employee :)
what matters is the fact that they are an investment service and will show only the investment part of bitcoin not the currency part and that part is what matters most.

The most interesting is what lies behind this. If Fidelity is mining bitcoins it´s because it´s thinking of bitcoin as an investment. They will have done their analysis and will come to the conclusion that Bitcoin's price will be higher in the future so they want to have bitcoins. They have two options, to buy or to mine. Taking into account the current price and calculating the mining costs they are testing with this option because they think it will be more profitable for them. On the other hand accepting bitcoin in their cafeteria allows them to study closely their daily operation while exploring how to make microtransactions. Their cafeteria is like a testing lab.

Huh.  Yeah I'd say this is indeed fantastic news.  Any of you thinking that shooting up to $2400 has something to do with more mainstream acceptance?   Seems to me like way more people know about bitcoin these days and some serious money is being pumped into it.  However what would be even better is if you could pay for the meal with dogecoin.  At least the confirmation time wouldn't be horrible and the fees wouldn't kill you.

Exactly. Fidelity will not easily jump on bitcoin is they haven't researched enough. I think they say a good chance of putting investment to gain rewards or profit in the future. But still, consider it a good news because every industry now are getting their hands to this so called "bitcoin" because profit is there. Welcome aboard to the moonwagon Fidelity.

Are they anticipating some good news to come to bitcoin ecosystem that's why they embrace bitcoin just now?
This is an investment houses. And jumping into bitcoin is quite surprise. Maybe they already have some big whalers that want to invest in bitcoin as well, that's why they embrace and adopt bitcoin. But yes, this is still good news for the bitcoin ecosystem. What matters here is that we have a investment firm willing to adopt bitcoin.

But how will they accept Bitcoin as payment in their caffeteria if transactions take so long to be confirmed?

Surely the profit is very good, especially on long term, when the BTC price hits higher prices, but it's not full developed yet to be accepted as payment for stores like caffeterias. Bitcoin transactions don't work for little amounts yet and some people here say Bitcoin isn't made to buy cheap stuff, like coffee.

Fidelity is a big name in world of insurance.

Im not living in the United States but Im currently working with their counterpart investment fund which is J.P Morgan Investment although Im on the Chase part which is the bank. Not much information I have known from the Fidelity but it's always mentioned in some of the works that I have been processing.

If they will embrace bitcoin, then surely their advisors sees some good results if they will done a thing like that. Well looking forward for this matter.

Fidelity is more as a mutual fund. That cafeteria part is just a start that's why it only covers their employees. They are not focused on that part. :)

The best thing here is, it's a great step towards the bitcoin awareness that one of the popular mutual funds adopts the idea of using bitcoin even with the test. But yes, confirmation time really matters but even with the current problem, Fidelity CEO is positive about the future of bitcoin which she stated, "I am still a believer. It’s no accident that I’m one of the few standing before you today from a large financial services firm that hasn’t given up on digital currencies."

Great. Even if this is just at their cafeteria, it sends a message that they, or at least the CEO, trust bitcoin and digital currencies. Being one of the oldest companies in the field, this do provide a boost.

This is another  good news coming from the stable of  those who believes in bitcoin and are equally not resting on their oars in making that a reality. This is also a confirmation to shame those who have the believe that bitcoin has reached its potential and have reached the maximum advancement that can happen to it. I believe this adoption is going to more stabilize bitcoin price .

IMHO they're not really counting on anyone buying coffee with bitcoin right now. It's about sending a message & dipping their toes in the world of cryptocurrency.

Yeah having a conservative house to invest in bitcoin is something.  This is a good news, more adoption and investment will surely come to bitcoin making its price to soar more.  Just a little longer and we can see Bitcoin reaching 10k dollar a piece.

...

Know what?  Someone with better math skills than mine might consider modeling future Bitcoin adoption.

I have a hunch that BTC acceptance, among people like those of us here AND merchants & companies (Fidelity) is the beginning of an exponential curve...  That is, growth (growth of BTC use, perhaps price too) will seem slow (now), then will pick up noticeably (beginning to happen), then will shoot up catching most by surprise.

If my hunch is right, BTC will be big very quickly after it starts gaining major attention.

Great news, reputable investment company trust in bitcoin? It will bolster faith in bitcoin among non-believers.

When we consider short bitcoin history, if the coin will remain on the same path, then suddenly BTC becomes the best retirement fund you can imagine.

I am a bit confused though, so Fidelity Investments incorporated Bitcoin into theirs investments plans too?

Yes, it can be applied as a retirement fund too. This moved will increased the chance of bitcoin to be used by their existing clients resulting in bitcoin awareness. I think we should wait for further announcement from the Fidelity itself, to really see what are their future plans in terms of bitcoin adoption. I hope other reputable investment company will follow on their footstep.

A large institution with thousands of customers adopting bitcoin will definitely instill a lot of faith in bitcoin and attract customers to invest in bitcoin. Next step would be an Bitcoin ETF and the millennial generation will actually be able to retire on bitcoin

It's like a drum beat that keeps getting louder and louder. Pretty soon no more barriers and it's an everyday occurrence. Looking at the growth of the crypto markets imo this is just the start /ground floor. Hold on to your coins cause we are about to go straight up for a while. Think world wide tech boom.

https://coinmarketcap.com/charts/

If this is just the start, can you imagine what the rest of this chart will look like in a year or two.  😂

Bitcoin ETF is a different subject matter. But I agree, that this moved by Fidelity is one step closer to mass adoption. If Fidelity will incorporate bitcoin in their investment plan, then their customer will learn about what bitcoin is. Then word about bitcoin will spread far.

On November 17, the Canadian regulator (IIROC) approved Fidelity Investments to launch an institution-oriented trading and custodial platform for bitcoin. This step will allow the management company to launch an ETF based on bitcoin.

source: https://www.fidelity.ca/cs/Satellite/doc/pr_fcc_digital-asset-service-bitcoin.pdf

Fidelity is Digital Assets that are good for Investments, said that the maturation and consolidation of digital assets a class of investments it will continue until now and for years to come, which means crypto may have become a traditional finances.  and i think we continue to see adoption at bitcoin.