Retirement giant Fidelity said on April 26 that it has launched a way for workers to put some of their 401 savings and contributions directly in bitcoin, potentially up to 20 percent; all from the account’s main menu of investment options.
government last month warned the retirement industry to exercise “extreme care” when doing something like this, highlighting how inexperienced investors may not appreciate just how volatile cryptocurrencies can be, among other concerns.
Beyond its volatility, there’s still fundamental disagreement about how much a bitcoin is worth, or even if it’s worth anything at all.
Proponents say cryptocurrencies can boost returns in a well-diversified portfolio, without adding too much risk.
A big part of the thrill of crypto for some traders is just how volatile it can be.
That means between $7.50 and $9 of each $1,000 invested in the bitcoin account would go toward paying expenses every year.
ForUsAll plans to require savers to take an interactive quiz about the risks of cryptocurrencies before buying them, among other moves to educate investors.
Murphy, Sr., a former enslaved man founded the AFRO in 1892 with $200 from his wife, Martha Howard Murphy.