Fidelity to let investors add bitcoin to 401(k) retirement accounts

In a first for a major company, one of the world’s largest asset managers – Fidelity Investments – will allow investors to add Bitcoin to their 401(k) retirement plans.

  • Reports from earlier today revealed that Fidelity said some of the 401(k)s it administers plan to soon offer ways for employees to invest in Bitcoin through dedicated “digital asset accounts.”
  • Fidelity Investment reportedly has $4.2 trillion in assets under management.
  • Speaking on this, Dave Gray, the company’s Head of Workplace Retirement Offerings and Platforms, said:

Fidelity believes blockchain technology and digital assets will be a much bigger part of the future of the financial industry.

  • Fidelity also revealed that MicroStrategy would be its first customer for the new product, and that’s no surprise, given that the software giant holds nearly 130,000 BTC on its corporate balance sheet.
  • The company would start offering the BTC account in its 401(k) later this year.
  • The investment firm also revealed that it aims to expand accounts and reach more sponsors by the middle of this year while saying employees could put up to 20% of their 401(k) balance on these. accounts.
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