Abigail Johnson, that shrewd titan of finance, unveiled the secrets of Fidelity’s crypto conquest, a tale of grit and greed 🧠💸. With a wink and a nod to the wild west of digital gold, she spilled the beans on how her firm rode the blockchain wave like a cowboy in a cowboy hat 🤠.
At the Founders Summit, Johnson spun a yarn about Fidelity’s early days in crypto, a time when most banks were too busy sipping espresso to notice the Bitcoin revolution brewing in the shadows 🕵️♂️. “We were just curious,” she said, as if curiosity was a 200k mining rig 🛠️.
How Fidelity Got Into Crypto
Johnson’s tale began with a “learning curiosity thing” – a phrase that sounds like a fancy way of saying “we had no idea what we were doing, but hey, let’s try something new!” 🤯. In 2013, a band of Fidelity dreamers met in back rooms, scribbling notes on Bitcoin like it was the last copy of the Bible 📖. They came up with 52 use cases, most of which were as useful as a screen door on a submarine 🚢. Only one worked: accepting Bitcoin for charity. Now that’s what you call a “win” – or a very expensive coffee break ☕.
This tiny victory? A golden ticket to the crypto elite, making Fidelity the cool kid on the block 🎉. Who knew donating to charity could be so profitable? 🤑
The $200K Mining Bet That Paid Off Big
Here’s where things got spicy. Johnson pushed through a $200k Antminer purchase, a move that probably made her CFO weep into their coffee ☕. But lo and behold, it became “the highest IRR business Fidelity ever had” – a fancy way of saying they struck gold faster than a thief in a bakery 🍞. Now, Fidelity’s hands are deep in Bitcoin’s technical trenches, like a miner in a gold rush 🏞️.
While Wall Street was still figuring out what a “blockchain” was, Fidelity was already building their own digital empire 🏰. Talk about ahead of the curve! 🚀
Johnson on Bitcoin: ‘I Own Bitcoin. I Kind of Like Bitcoin.’
On her personal crypto stash, Johnson was as clear as a foggy morning in London 🌫️. “I don’t own tons of coins, but I own Bitcoin,” she said, like a CEO who’s finally found their true love 💕. She called BTC “the gold standard… in the crypto world,” which is like saying a superhero is the best at being a hero 🦸♂️.
And let’s not forget her bold claim: “It will continue to play a role in people’s savings plans.” Because nothing says “financial security” like a digital token that could vanish overnight 🚨.
From Experiments to a Real Business
What started as a quirky experiment? Now, crypto is Fidelity’s new bread and butter, touching everything from asset management to R&D 🧪. Johnson’s words? “Zero chance it’s not happening because it is happening.” Translation: “We’re all in, folks, and we’re not looking back 🚫.”
So there you have it – a story of ambition, Bitcoin, and the relentless grind of Wall Street. Who knew the future of finance was hiding in a digital ledger? 📋💰
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2025-12-05 16:53