Fidelity Investments CEO on Her ‘Third Crypto Winter’

On Thursday (June 9), Abby Johnson, Chair and CEO of Fidelity Investments, talked about the crypto during a fireside chat with Matthew Walsh, Founding Partner at Castle Island Ventures, on the first day of the Consensus 2022 event (June 9-12, 2022) in Austin, Texas.

The Fidelity CEO said this about the current bear market:

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I figure this is my third crypto winter, and then when you figure on bear markets and securities market, I’ve seen plenty of ups and downs, but I see that as an opportunity, and I was kind of raised to be a contrarian thinker.

And so, I have this knee jerk reaction that if you believe that the fundamentals of a long-term case are really strong when everybody else is dipping, that’s the time to double down and just dive extra hard into it, and that’s usually the right move. So, I’m so I’m excited about what’s going. I mean, I feel awful about the value that’s been lost, but I also believe that … there’s a lot of a lot to come and it’s really exciting.

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According to a report by CoinDesk, she also talked about “Fidelity’s recent move to offer bitcoin exposure in clients’ 401 (k) retirement plans,” and she had this to say:

I would have never thought that we would have gotten so much attention for bringing a little bit of bitcoin to a little bit of the 401(k) business. A lot of people now, that they’ve heard about it, have been asking, so I’ve been happily surprised at the amount of positive feedback that we’ve gotten on that.

Seeing some of the regulators trying to lean into this is very encouraging and exciting for us… Because if they don’t give us a route to make some of these connections, then it makes it really hard for us in the background to be able to make it feel seamless.

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