Fidelity is Unlocking Bitcoin for Millions of Retirement Accounts

What is the greatest factor holding Bitcoin back from mass adoption? 

Institutional investors. 

But all of that is about to change. 

Many institutions have expressed concerns over adding Bitcoin to their balance sheets, offering anything related to crypto as a service, or touching it at all. 

The big players on Wall Street believe it's too risky and desire greater clarification around regulation from the federal government.  

However, some actors are taking big first steps and connecting to the Bitcoin network. 

Fidelity Investments has officially announced they will soon allow investors to add Bitcoin into their 401Ks. Fidelity is a giant in the industry and is now empowering 23,000 employers to offer their staff the ability to tap into the Bitcoin network in their retirement accounts (source). 

“There is growing interest from plan sponsors for vehicles that enable them to provide their employees access to digital assets in defined contribution plans, and in turn from individuals with an appetite to incorporate cryptocurrencies into their long-term investment strategies,” said Dave Gray, head of workplace retirement offerings and platforms at Fidelity Investments (source). 

Fidelity's move is likely to attract employers who wish to offer their employees Bitcoin in their 401Ks but don't have the knowledge to do it.

For the vast majority of the population, adding Bitcoin into their retirement funds is not an option they currently have. 

There are trillions of dollars of value tied up in these accounts that are mostly allocated to U.S. equities and bonds. Introducing Bitcoin to these funds could shift some of that allocation to digital assets and be a BIG deal for Bitcoin holders.