Bitcoin In Your Fidelity 401(k)

Fidelity Investments, the largest retirement plan provider in the United States, plans to allow investors to allocate up to 20% of their 401(k) accounts to bitcoin. It’s the first major retirement-plan provider to do so.

Fidelity’s new “Digital Assets Account” will hold bitcoin and short-term money market investments to provide the liquidity investors would need to engage in daily transactions. The company said the currency will be held in custody with Fidelity Digital Assets to ensure “institutional-grade security.”

If you’re wondering, this is a completely centralized way to hold and trade the original decentralized asset. If you’ve engaged in cocktail conversation about bitcoin being a “speculative asset” or “digital gold” (whatever that’s supposed to mean) or a “store of value” or “means of exchange,” this is the mic drop moment.

Author’s note: This is not a sponsored post. I am the author of this article and it expresses my own opinions. I am not, nor is my company, receiving compensation for it.

About Shelly Palmer

Shelly Palmer is the Professor of Advanced Media in Residence at Syracuse University’s S.I. Newhouse School of Public Communications and the CEO of The Palmer Group, a consulting practice that helps Fortune 500 companies with technology, media and marketing. Named LinkedIn’s “Top Voice in Technology,” he covers tech and business for Good Day New York, is a regular commentator on CNN and CNBC and writes a popular daily business blog. He’s the Co-Host of the award-winning podcast Techstream with Shelly Palmer & Seth Everett and his latest book, Blockchain - Cryptocurrency, NFTs & Smart Contracts: An executive guide to the world of decentralized finance, is an Amazon #1 Bestseller. Follow @shellypalmer or visit shellypalmer.com.

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