Fidelity CEO Abigail Johnson disclosed she holds Bitcoin personally while outlining how the firm evolved from early experimentation to a full-scale crypto operation. The account traced a path from small internal tests in 2013 to custody services now serving financial advisors.
What Happened: CEO Disclosure
Johnson made the remarks at the Founders Summit.
She said that a small team inside Fidelity began studying Bitcoin around 2013, mapping 52 potential applications. Most failed testing. One survivor — accepting Bitcoin donations for charity — gave the group external credibility and permission to push deeper into the technology.
Johnson backed a $200,000 purchase of Antminer mining hardware over internal opposition.
That investment became "probably the single highest IRR business" Fidelity has run, according to reports from the summit.
The mining operation forced staff to learn wallet security and network infrastructure ahead of competitors.
Demand from financial advisors drove the firm toward custody. Advisors needed secure ways for clients to hold and transfer Bitcoin, prompting Fidelity to build custody products and research support. Johnson told attendees she owns BTC and views it as a core savings asset, calling it crypto's "gold standard."
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Why It Matters: Institutional Adoption
Market data cited during the session, featuring Johnson's speech, showed Bitcoin trading above $89,000 while centralized exchange balances dropped to roughly 1.8 million BTC — a level last seen in 2017, based on CryptoQuant and Glassnode figures referenced by BRN Research. Realized-cap growth stayed positive on a monthly basis. Analysts interpret this as fresh capital entering even as price movement remained contained.
Ethereum climbed past $3,200 as wallets holding between 1,000 and 10,000 ETH resumed buying.
Daily new addresses briefly approached 190,000 following the Fusaka upgrade, a spike analysts link to stronger demand.
What the market lacks, according to briefing analysts, is a decisive move into the $96,000 to $106,000 range that would confirm a broader breakout.
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Fidelity CEO confirms personal Bitcoin holdings and firm's crypto journey (Image: Shutterstock)