Fidelity announces allowing investors to add bitcoin to retirement accounts
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Answer Fidelity announces allowing investors to add bitcoin to retirement accounts
For the first time for a major corporation, one of the world’s largest asset managers, Fidelity Investments, will allow investors to add bitcoin to retirement plans.
revealed Reports Released earlier today, Fidelity reported that some of the 401(k) accounts it manages plan to soon provide investors with the means to invest in bitcoin through dedicated Digital Asset Accounts.
According to press reports, Fidelity Investments has assets under management of $4.2 trillion.
Speaking about this, Dave Gray, head of retirement offerings and platforms at the company, said:
Fidelity believes that blockchain technology and digital assets will be a much larger part of the future of the financial industry.Read:Turkey is preparing to test its digital currency (lira) next year
Fidelity also revealed that MicroStrategy will be its first customer for the new products, which comes as no surprise, given that the software giant holds approximately 130,000 bitcoins on the company’s balance sheet.
It will begin offering bitcoin in 401(k) accounts later this year.
The investment company also revealed that it aims to expand the accounts and reach more sponsors by the middle of this year while noting that employees can put up to 20% of their balance into these accounts.Read:Adzcoin e-currency
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