Investing in Bitcoin as part of employees’ 401k, Fidelity Investments is on it

Coinbase partners with 401k provider bitcoin retirement

One of the world’s largest financial services firms is seriously considering launching retirement plans that will allow employees to set aside funds in Bitcoin.

401k goes public

Ever since the U.S. regulator gave permission for Bitcoin to be used in 401k plans, few providers of such solutions worked towards it. In June 2021, we reported that Coinbase partnered with ForUsAll to provide the startup’s customers with the ability to invest in Bitcoin for employees’ 401k. For more information, see the article titled “Coinbase partners with 401k provider to offer BTC”.

However, major market players have shown at most a moderate interest in Bitcoin. It looks like the situation is about to change, and it is thanks to Fidelity Investments.

A plan on the way to implementation

According to representatives of Fidelity Investments, there are many indications that in the near future the company will allow employees of its clients to allocate part of their savings portfolio in Bitcoin. These opportunities will apply to 20% of the funds and will not require setting up an account on an exchange or operating a crypto wallet. The program would be launched later this year. It could give huge opportunities for adoption as Fidelity Investments serves more than 23,000 companies. One of them is MicroStrategy, which has initially expressed interest in such a venture. At the same time, talks are ongoing with more companies. 

Decision backed by fundamentals

The head of platforms at Fidelity Investments, Dave Gray, indicates that the decision is justified by the very high demand expressed by the firm’s clients. In his words:

“We’ve started to hear growing interest from plan sponsors, organically, in how Bitcoin or how digital assets can be offered in a retirement plan. We fully expect cryptocurrencies to shape the way future generations think about investing, in the near and distant future.”

Fidelity has long been known for its interest in both Bitcoin and the crypto space. The company’s involvement in a 401k plan backed by BTC only strengthens its market position. At the same time, this is a significant move towards mass adoption of Bitcoin. Especially within the United States.

Disclaimer: Blockbulletin does not take accountability of investments based on the information of the website. We highly advice readers to make extensive research prior to any invest

Share this post

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on print
Share on email

More News

All articles loaded
No more articles to load

Knowledge Base

Terra (LUNA)

What is Terra (LUNA)?

This time we take a look at another project that dived deep into the hearts of investors. What exactly is…

What is Avalanche (AVAX)?

Avalanche (AVAX) is a blockchain, which conquers the hearts of programmers and at the same time is a great bargain…

What is Sandbox (SAND)?

In this material, we take a look at one of the fastest growing spaces in the metaverse family. We are…
All articles loaded
No more articles to load

Analyses

All articles loaded
No more articles to load

Knowledge Base

What is Terra (LUNA)?

This time we take a look at another project that dived deep into the hearts of investors. What exactly is Terra (LUNA)? Blockchain Terra (LUNA)…

What is Avalanche (AVAX)?

Avalanche (AVAX) is a blockchain, which conquers the hearts of programmers and at the same time is a great bargain for investors. What distinguishes the…

What are stablecoins and how can you use them?

In recent years, cryptocurrencies are experiencing a real “boom”! And not just for cryptocurrencies – the rise in popularity applies to blockchain technology in general.…

What is Sandbox (SAND)?

In this material, we take a look at one of the fastest growing spaces in the metaverse family. We are talking about Sandbox and SAND…

What is Polygon (MATIC)?

Another coin worth looking at is Polygon (MATIC). It is especially liked by many investors. So what makes its popularity constantly growing? Support for Ethereum…

What is Shiba Inu (SHIB)

Shiba Inu (SHIB) is one of the most sought-after coins on the market. This is evidenced by its dynamic rallies and global interest. But does…
All articles loaded
No more articles to load