2 November 2024
MicroStrategy To Offer Bitcoin Retirement Plans Access To Its Employees
Yesterday, MicroStrategy announced that they are planning to allow employees to retire on Bitcoin through Fidelity’s new BTC 401(k) program.
The company has revealed its Bitcoin option for 401(k) plans for its employees. The founder and CEO of MicroStrategy, Michael Saylor, said: “as MicroStrategy continues to be a pioneer in bitcoin for corporations, we are planning to offer our employees the option to invest in bitcoin as part of their 401K portfolio.”
MicroStrategy has partnered with retirement giant Fidelity, and it will become the world’s first publicly listed company to allow its workers to invest in the pioneer Cryptocurrency as part of their 401(k) savings account.
The news came up soon after Fidelity announced that it let its clients add bitcoin to their 401(k) retirement accounts. 401(k) accounts in the United States help employees to get tax breaks on the contributions they make from their paychecks towards retirement. However, employers who adopt this option will be able to allocate only 20% of their employees’ funds to the dominant Crypto.
Fidelity’s new program will go live later this year. The move shows that Bitcoin is gaining trust as an investment despite the asset’s extreme volatility.
While speaking with CNBC, Saylor said that his employees had requested a bitcoin option in their 401(k) accounts.
“Bitcoin is digital property and that makes it the perfect asset for a retirement plan.”
Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice.
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