New US Bill Says Blocking Bitcoin in 401(k) Accounts Government Overreach – The Tokenist

As a brokerage and asset manager holding $4.2 trillion AuM and employing 65,000 people, one would assume Fidelity would know best about asset risks.

Tina Smith, directly wrote to Fidelity, asking why the investment company included Bitcoin on the 401 menu.

Warren, does the government have the role to determine personal investment choices? Not according to Sen.

In fact, many penny stocks are more volatile than cryptocurrencies above the $10 billion market cap.

Through the Committee on Health, Education, Labor, and Pensions, the bill is just in the introductory stage.

Moreover, most of his past submissions revolved around veteran rights, armed forces and national security, with a third focusing on immigration issues.

Most importantly, Republicans in the Senate won’t have the majority, if one were to assume the bill would be backed across party lines.

Speaking of risky assets, the perfectly fine stocks to include in 401 took a dive from Thursday to Friday.

Bitcoin and Ethereum, the top two coins holding 61% total crypto market cap at $1 trillion, followed suit into slightly greater negative territory.

It seems that it took a while before it sank in that the Fed’s latest 0.5% interest hike is not likely to impact the 8.5% inflation rate.

However, the inflation rate is still outpacing average hourly earnings growth, which is at 0.3%, a bit lower than the 0.4% estimate.

After all, if borrowing becomes too expensive too soon, people are likely to suspend their consumer habits.

General Disclaimer: The Tokenist is an independent website managed by Tim , who, despite a background in corporate finance and private equity, should not be considered an “expert” on all financial matters.

Advertising Disclosure: Some offers on this page may promote affiliates, which means The Tokenist earns a commission if you purchase products or services through the links provided.

…Read the full story