May 25, 2022

Fidelitu will add investment in bitcoin to the pension plan

In the middle of 2022, the American financial company Fidelitu will allow its clients to invest pension savings in bitcoin.

The firm is integrating bitcoin into the most popular 401(k) retirement plan in the US.

Working Americans will be able to independently choose the amount of investment in cryptocurrency, however, the maximum allowable limit is 20% of the amount of pension contributions.

The US Department of Labor is skeptical aboutinvestments in digital assets, but does not yet want to impose a ban on the creation of pension plans with the option of buying virtual currencies. At the same time, the department recommends refraining from acquiring coins at the expense of pension contributions.

“Investing in digital assets carries high risks for owners of savings pension accounts associated with fraud, theft and losses,” said representatives of the US Department of Labor.

Contrary to the fears of officials, Fidelit's clientsshow high interest in bitcoin. Analytical company MicroStrateg has already subscribed its employees to a pension plan with the possibility of buying cryptocurrencies. According to Fidelit manager Dave Grey, the firm is in talks with several other employers.