Onramp Bitcoin Media Fidelity’s Chris Kuiper: Bonds Are Broken & Bitcoin’s 4-Year Cycle Is Dead
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Sep 5, 2025 Chris Kuiper, Vice President of Research at Fidelity Digital Assets, tackles the shifting landscape of Bitcoin investing. He argues that traditional four-year market cycles are fading as institutional interest surges, highlighting an era of record ETF flows and increased advisor engagement. Kuiper discusses the challenges faced by finance professionals in adapting to Bitcoin’s unique volatility and its implications for portfolio strategies amidst changing macroeconomic conditions. He also reflects on the evolving relationship between Bitcoin and gold as alternative assets.
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Advisors Are Now Leading ETF Filers
- 13F filings show advisors are now the largest filer category, signaling true advisory adoption beyond hedge fund basis trades.
- Presence of major endowments and pensions reduces career risk and opens the door for follow-on institutional allocations.
Ancient Supply Is The Current Source Of Sell Pressure
- Long-term holders ('ancient supply') are selling into rallies and currently supply the market more than miner issuance.
- Once that cohort is exhausted, the supply squeeze could accelerate price appreciation.
Start Advisor Education And Remove Barriers
- Advisors should start educational journeys now: get comfortable, remove unnecessary internal hurdles, and integrate compliant offerings.
- Use available channels like integrated wealth platforms and ETPs to offer client access responsibly.