Fidelity is adding bitcoin as a retirement savings option

Yesterday, Fidelity announced that retirement investors will be able to add bitcoin to their 401k retirement plan later this year. Will Bitcoin’s Embrace by the US’s Largest Pension Provider Drive Bitcoin’s Broader Adoption? In this article we find out. We also look at Bits. A new service from Bitonic that makes it possible to automatically save with bitcoin for your pension, for example.

A 401k retirement plan, what is it anyway? In short, it is a pension plan for American employees with which tax-free savings can be made. The pension plan is set up and maintained by employers. About 79% of Americans have access to a 401k.

Fidelity & bitcoin

Fidelity, the largest US pension provider and one of the largest asset managers in the world with $4,200 billion under management, has also been active in the bitcoin sector for some time. In 2018, the company’s CEO, Abigail Johnson, created a dedicated offshoot (Fidelity Digital Assets) that allows institutional investors to invest in bitcoin. Fidelity also has experience with bitcoin mining

Fidelity’s step to make bitcoin possible for pension investors is therefore not entirely remarkable. However, this can be an important signal to other pension providers and institutional parties and lead to a wider acceptance of bitcoin.

Later this year, the 23,000 companies that use Fidelity to manage their employees’ retirement plans will be given the option to add bitcoin. MicroStrategy, the company with 129,218 bitcoins on its balance sheet and whose CEO is Michael Saylor, will be the first employer to offer employees the option to add bitcoin to their 401k retirement plan.

In the video below, MicroStrategy CEO Michael Saylor explains this in more detail.

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *

© 2024 Cryptocoin Budisma.net