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Fidelity Won Approval to Become the First Institutional Bitcoin Custodian in Canada

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Today’s Cryptocurrency Headline

Fidelity Clearing Canada, a subsidiary of fund giant Fidelity, has received approval to become Canada’s first institutional-level Bitcoin custodian. Canada’s investment Industry regulator (IIROC) gave it the green light to launch a new Bitcoin trading and hosting platform to cater to institutional clients such as pension funds, portfolio managers, mutual funds and exchange traded funds seeking direct exposure to Bitcoin. Fidelity will pave the way for more institutional investors to buy Bitcoin directly.

BingX’s Bitcoin Chart

BingX's Bitcoin price analysis predication

Source: TradingView& BingX

Marathon Digital( CEO Fred Thiel said his company broke even on Bitcoin at about $6,500, taking into account energy and hosting costs. Even if Bitcoin fell from its all-time high of $68,991 to around $60,000 this week, it would need to plummet 80 percent to break even. BTC price is currently consolidating at the $60,000 key level. If BTC fails to secure the $60,000 mark, it will likely continue to seek support at lower levels.