🥶 [Analysis] The business of Bitcoin cold storage – Nik Bhatia

Nik argues that vaults storing bitcoin ($BTC) private keys have been around for years, but Fidelity recently set an asset management industry precedent that will redefine bitcoin’s custodial infrastructure landscape. Bitcoin does not need Fidelity to become legitimate; rather Fidelity launched bitcoin custodial services because bitcoin has already achieved legitimacy. Many other custody firms will follow suit and ETFs will be approved. This will open up the path for institutional investors as they can now trust that their funds will be safe and can feel assured about investing in the asset class.