Fidelity Investments customers with a 401(k) account will be able to invest a portion of their account funds in bitcoin starting later this year.
in part because more companies began accepting it as a form of payment. In another sign that cryptocurrency is gradually becoming a mainstream investment, Wall Street firms have created exchange-traded funds around crypto futures.
Despite the risks of wild price swings, roughly 40 million Americans have invested in cryptocurrencies, including about 43% of men ages 18 to 29. according to the. Fidelity said it estimates that roughly 80 million individual investors in the U.S. own or have previously invested in a digital currency.
Employees who choose Fidelity's new option will have their bitcoin held and managed in a so-called digital asset account, which is separate from the main 401 bucket. Fidelity plans to cap how many times an account holder can buy and sell bitcoin.
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