🟪 FOMO fake out

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Did we miss it?

That seems to be a prevailing question among investors who recently spoke with Fidelity Digital Assets, as reported by Forward Guidance’s Ben Strack.

As Ben noted, the question seems triggered by bitcoin’s meteoric rise above $100k. But, interestingly, Fidelity’s crypto arm breaks the question down to a more fundamental one: Is the FOMO about missing out on crypto itself, or just the latest speculative boom? 

“Although this process will likely take decades, 2025 has the potential to be the year that is looked back on as the pivotal time where the ‘chasm was crossed’ as digital assets begin to take root and embed themselves into multiple fields and industries,” Fidelity Digital Assets research director Chris Kuiper wrote, adding:

“Therefore, it may be too late for the speculators that want another frenzy. However, we believe we are still incredibly early in terms of this new era of sustainable adoption, diffusion and integration.”

A lot to chew on, yes, but it’s an important bite, especially as bitcoin knocks around the lower $90k’s. 

Depending on who you ask, bitcoin is destined for a higher orbit any day now. The Blockworks team has been fielding price predictions in recent days, and basically everyone is pointing to a bullish 2025. 

As for me, I’ve been around too long to get into the business of calling prices, but on a long enough timeline — well, you get the idea.

I think Fidelity is right to shift the focus away from the frenzy and toward what one might consider more boring: “adoption.” It’s certainly built an entire business on this premise, so perhaps one can expect the firm to express this kind of long-horizon bullishness.

Maybe that’s the kind of adoption we want to see — building businesses, setting up real economic activity and planning for a time beyond the memes and price bonanzas. One can hope, at least.

And now, onto the roundup. 

— Michael McSweeney

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