bitcoin.gif

Fidelity clients can now view their Bitcoin holdings on Fidelity.com

Fidelity Investments announced on Wednesday that its clients can now view their holdings of Bitcoin and other cryptocurrencies held through digital wallet provider Coinbase. The process is much like linking your other bank accounts so you can see your entire financial picture in one snapshot.

The initiative is a first among the major financial services companies. Through the experiment, the company said it aims to learn more about digital currencies. Coinbase enables users to buy and trade Bitcoin as well as other digital currencies like Ethereum and Litecoin.

The announcement comes as no surprise as Fidelity CEO Abigail Johnson is one of the highest-profile members of the financial services industry to back Bitcoin. Fidelity to date has worked with Coinbase to allow charitable giving in bitcoin (clients have donated $8 million so far), enabled bitcoin payments in its cafeteria (fewer than 100 employees have tried it) and is studying applications for distributed ledger technology.

“Blockchain technology isn’t just a more efficient way to settle securities. It will fundamentally change market structures, and maybe even the architecture of the Internet itself,” she said.

Do you own Bitcoin or other digital currency?

you ask we answer

Share This Story, Choose Your Platform!

About the Author: Chris Wang

Chris Wang

IMPORTANT DISCLOSURE INFORMATION

Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Runnymede Capital Management, Inc.), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from Runnymede Capital Management, Inc. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Runnymede Capital Management, Inc. is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of Runnymede Capital Management, Inc.’s current written disclosure statement discussing our advisory services and fees is available for review upon request.