As Bitcoin hovered around $38,000 last April—down 45% from its peak—Fidelity Investments announced its customers could soon add the digital asset to their retirement accounts through a first-of-its-kind offering.
A group of U.S. senators, including Elizabeth Warren and Dick Durbin, urged Fidelity to reconsider its Bitcoin embrace, arguing that digital assets exposed retirement savers to unnecessary risk. “Any investment strategy based on catching lightning in a bottle, or motivated by the fear of missing out, is doomed to fail,” they stated in a letter. “We are already in a retirement security crisis, and it should not be made worse.”
But Fidelity’s Bitcoin offering still stands. It’s “offering a responsible option for plan sponsors who want to meet the interest in crypto,” a company spokesperson said.
And Fidelity is just one of many sizable firms that has not backed away—it continues to publicly declare that digital assets are rife with opportunity.
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