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They Didn’t Make the List: The World’s Richest Families
Despite not ranking among the world’s richest families, Fidelity’s significant achievement in the crypto market is undeniable. In 2024, the company’s Bitcoin ETF (FBTC) secured a massive 72.4 billion dollar fortune, landing them at number 11.
However, it’s worth noting that their family-controlled structure has been instrumental in their success. As Michael O’Reilly, the head of Fidelity’s digital asset department, pointed out, this model allows them to take a long-term approach on areas like cryptocurrencies, which many competitors avoid.
The fact that Fidelity is privately held, with the Johnson family maintaining control over 49% of its shares and voting rights, has been touted as a strategic advantage in the cryptocurrency market. This unique structure enables the company to make decisions without being beholden to shareholders, allowing them to prioritize long-term growth over short-term profits.
As a result, Fidelity’s FBTC ETF garnered significant attention and trust from the crypto community.
Source: www.bitcoinbazis.hu
