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Seeking Alpha 2022-04-26 09:39:17

Fidelity will soon enable Bitcoin investing in 401(k) plans

Bitcoin (BTC-USD) slumped to a six-week low of $38,423 on Monday morning as investors pulled out of risk assets, but rebounded off its bottom following an intraday rally spearheaded by Elon Musk's deal for Twitter. More positive news saw the popular crypto rally 5.6% to $40,641 on Tuesday as Fidelity Investments announced plans to allow investors to put Bitcoin (BTC-USD) in their 401(k)s. It's a big move for the industry, which to date has effectively limited crypto investing for company-sponsored retirement accounts. Quote: "We have seen growing and organic interest from clients," especially those with younger employees, said Dave Gray, head of workplace retirement offerings and platforms at Fidelity. "We fully expect that cryptocurrency is going to shape the way future generations think about investing for the near term and long term." Later this year, employees at companies that sign up for the new offering will be able to transfer

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