Offering battle-tested advice to the crowd at Consensus 2022 in Austin, Texas, Fidelity Investments chairman and CEO Abigail Johnson said her belief in the long-term fundamentals of cryptocurrency remains strong.
“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 of the bear market. “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.”
To be clear, though, Johnson did not sound sanguine about the recent sharp correction. "I feel awful about the value that is lost, but I also believe the industry in crypto has a lot more to come," she said.
Fidelity – which Johnson’s grandfather founded the year after World War II ended – stood up a separate legal entity called Fidelity Digital Assets, in October 2018. But the...
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