Bitcoin Cycle Is Far From Over And Miners Are In It For The Long Haul: Fidelity Report

According to the latest insights by the Fidelity Digital Assets, the crypto wing of the Fidelity Investments of over $4.3 trillion assets shared their two statistics of the future digital space. The statistics touch on the miner’s behaviours and the BTC network adoption across the countries.

During the last week, they shared how BTC is currently the best choice for the long haul, which most investors are already working on. Most miners are investing for the long haul currently. They also stated how the hash rate recovered massively even though China, the world’s second-largest economy, banned BTC in 2021. This shows how BTC has most widely distributed across the world, and miners are working on long-term profits. According to more such statistics by them, the vital on-chain metrics indicate that BTC miners are currently in the significant BTC accumulation mode with no desire to sell apparently.

Considering the orange pilling countries, Fidelity also shared some very crucial predictions of accepting BTC as a legal currency. According to them, if the BTC adoption increases over time, countries that secure BTC today will be way ahead of their competitors in the near future. Thus, the spread of BTC in the upcoming years nationwide is no longer a surprise. It could even perhaps witness a central bank acquisition over time.

Tonga’s former MP also suggested that every country adopt BTC by late 2022. With the right regulation and better products, the crypto space can be a great replacement for the traditional assets in the digital asset ecosystem. The holdings of the miners made a great revelation about how BTC will be skyrocketed in the upcoming years.

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