With Fidelity poised to allow people to allocate as much as 20% of their retirement portfolio to bitcoin, more people are wondering if it's an investment move they should make. jacksonwoodHQ dives into the important things you should consider first:
company stocks. Viewing bitcoin as an investment into emerging technology is a responsible way to view the asset.
It is important to note that an allocation to bitcoin represents an alternative allocation and must be done with caution.Before allocating funds to bitcoin in a 401 or IRA, investors must determine why they want to make such a unique allocation. Allocating to bitcoin solely because one believes the price may rise may not be the best decision.
The innovation and store of value opportunities that are seen in the crypto asset class are unprecedented, but investors must be responsible with allocations and portfolio management – especially when allocating to highly volatile assets like crypto. Investors should not treat their 401s like a hedge fund or a day trading account. These retirement accounts are best used for long-term wealth accumulation and valuable tools used in preparing for future income needs.
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