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Welcome back to The Watch: A Bi-Weekly Bitcoin Newsletter

In this week's exciting edition of The Watch, we cover the CEO of Fidelity sharing some insight on their Bitcoin custody program, Square CEO Jack Dorsey reveals his commitment to environmentally friendly Bitcoin Mining, and Ruffer Investment Company Limited has shifted some of its investment focus from gold to Bitcoin. 


Fidelity Checks In

CEO of financial services giant Fidelity, Abigail Johnson, recently shared the story of how successful their Bitcoin custody program has been.

  • “Building those on- and off-ramps around facilitating the trading between fiat currencies and cryptocurrencies are something that’s happening now, and I’m glad it’s moving along,” said Johnson.

What To Watch Out for Next: The success of Fidelity's custody program marks a new age in which traditional financial institutions must have some exposure to Bitcoin, or find themselves playing catch up with a rocket.

Read more here


Shifting From Gold To Bitcoin

Ruffer Investment Company Limited has shifted some of its investing focus from gold and is beginning to allocate Bitcoin.

  • Ruffer said it has added Bitcoin to its Multi-Strategies Fund, primarily as a defensive move against the “continued devaluation” of fiat money. The fund now holds roughly 2.5% of its assets in Bitcoin.

What To Watch Out for Next: As the dollar continues its path towards a high inflationary environment- firms have begun to understand that Bitcoins properties and utilities are beyond that of gold.

Read more here


Bitcoin Goes Green

Square and Twitter CEO Jack Dorsey revealed his commitment to mining Bitcoin in the most environmentally friendly way possible.

  • Dorsey believes Bitcoin “...will eventually be powered completely by clean power, eliminating its carbon footprint and driving adoption of renewables globally.” 
  • Square also announced the launch of its Bitcoin Clean Energy Investment Initiative, where it has committed $10 million to support companies that help drive adoption and efficiency of renewables within the bitcoin ecosystem.

What To Watch Out for Next: Bitcoin has continued to emerge as a unique project that aims to tackle several societal issues within one system. It is very encouraging that the system rewards miners for sourcing the most efficient sources of energy.

Read more here 


Social Post of the Week 

Words of a Legendary Hero

"Dreaming, after all, is a form of planning" 

- Gloria Steinem

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