Speaking to those in attendance in Texas at Consensus 2022, Fidelity Investments CEO Abigail Johnson affirmed that the crypto markets had a lot of long-term promise. Johnson also mentioned that this was not her first rodeo and that the recent market corrections were an opportunity.
- “I figure this is my third crypto winter. There’s been plenty of ups and downs but I see that as an opportunity,” Johnson said, commenting on the state of the markets. “I was raised to be a contrarian thinker and so I have this knee-jerk reaction: If you believe that the fundamentals of a long-term case are really strong, when everybody else is dipping [out], that’s the time to double down and go extra hard into it.”
Despite these assertions, Johnson stated that she felt horrible about the value that had been lost, but that she still believes there is potential. “I feel terrible about the value that has been lost,” the Fidelity CEO stated, “but I also believe the crypto business has a lot more to come.”
Johnson acknowledged during her speech that she has long been captivated by Bitcoin and the crypto markets. Johnson also revealed that she was intrigued with Satoshi’s approach to finance and wealth distribution as early as 2014.
Fidelity Investments was one of the first TradFi companies to get directly involved in the emerging sector. The company made waves in April when it announced that Bitcoin would be included in its 401(k) plan.
