A “new wave of retail investors” is waiting to adopt digital assets.
Fidelity Digital Assets, the cryptocurrency custody and execution arm of United States financial services giant Fidelity, has claimed in a new report that retail investors will turn their attention to digital currency as they become more familiar with Bitcoin and other crypto offerings via social media platforms.
According to the report, social media and communication platforms including Twitter, Reddit, Telegram, YouTube, and Tik Tok are driving the retail adoption of Bitcoin (BTC); they dissemble financial information and advice in a “more viral and rapid” way than traditional channels.
“As this new wave of retail investors familiarize themselves with these channels, some of their attention will undoubtedly flow to Bitcoin and other digital assets,” the report states.
While the majority of the report focused on the continuing flow of institutional investors to Bitcoin, Fidelity Digital Assets was careful to note that the narratives for retail speculators are very different:
“Bitcoin is reflexive,” suggested the report.