Fidelity will soon start allowing eligible individuals to save a portion of their 401 in Bitcoin, the company announced Tuesday.
While Fidelity doesn’t specify how much employees can dedicate to cryptocurrency in its release, the Wall Street Journal reports that employees can elect to save up to 20 percent of their retirement fund in Bitcoin.
The company, led by Bitcoin proponent Michael Saylor, acquired $250 million in Bitcoin in 2020 and continued to buy into the cryptocurrency as part of its financial strategy.
workers,” citing that this type of investment presents “significant risks and challenges to participants’ retirement accounts, including significant risks of fraud, theft, and loss.” President Joe Biden has also signed an executive order designed to push for more crypto regulation in the US.