After a choppy start to the week, bitcoin and other major cryptocurrencies plateaued.
Today the bitcoin price is up a couple of basis points. Ether
ETH
BNB
ADA
XRP
Meanwhile, crypto king bitcoin’s passed what many call a “historic milestone”. For the first time, investors will be able to invest a portion of their 401(k) funds in the crypto. This comes after Fidelity, the world’s third-largest asset manager, announced that it will offer bitcoin in its retirement accounts.
On Tuesday, Fidelity said that the crypto is coming online in 401(k)s by mid-2022. And it will be available to over 23,000 employers who hold their retirement accounts with Fidelity.
[Ed note: Investing in crypto is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]
This makes Fidelity the first asset manager to offer crypto for retirement savings – the latest indicator that crypto is going mainstream. Fidelity is the largest 401(k) provider managing over $4 trillion in assets—one-fifth of which will be available for crypto.
That means bitcoin may be in for an $800 billion buying frenzy this year.
Bitcoin
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Zooming out
Not long ago, investors dismissed bitcoin as the biggest Ponzi scheme in history. Today…
