Retirement in Bitcoin is approaching with Fidelity – PTC Direct

For many of us, the retirement age is still a long way off. Knowing that we are living in an era of bitcoin, the economy of the future and hard money, it is special that these crypto pension schemes rarely appear. Hope a solution has been found for this.

Why retire at Bitcoin?

You could argue that this is a solution to a non-existent problem, but you are wrong. Saving your entire pension in fiat money is a risk and a choice before inflation.

Fiat money like the euro or the dollar will be worth less, of course in the long run. Bitcoin’s decades of history and its planned future show the opposite. Inflation is determined every four years HalvedSo BTC is called sound money (hard money like gold) and the value of bitcoin is higher year by year and in the lower range Of course Always high.

Fidelity Investments, a large investment firm, says it wants to help Americans include bitcoin in their retirement plans. The New York Times⁇

Bitcoin at 401k

It is good to know that the pension system in the United States is different than in the Netherlands. There they talk about the 401k project. It 401k pension plan Helps employees in the United States save for their own pensions. You can save an x ​​amount of your total income called 401k. They do not pay income tax on this amount, which is becoming very popular.

Many more companies are contributing to the 401k project. This is allowed up to a maximum of 5% of the annual salary. Money is invested by the asset manager in stocks, securities and index funds.

The retirement plan is good for Bitcoin

You can guess who is one of the providers of these types of pension plans in the United States. Fidelity manages 401k pension savings of more than 20 million people. The fact that they want to add bitcoin to their customers’ pension plans means that 20 million people can buy bitcoin simultaneously through the DCA system.

According to Fidelity’s Dave Gray, the demand for bitcoin in retirement plans is growing. So, Fidelity plans to launch this new bitcoin product later this year. 0.9 per cent will be charged for this. Employees can save up to 20 percent of their pension on bitcoin.

Regulators against bitcoin retirement

It is important to note that these types of savings plans are highly regulated, meaning that Fidelity’s new venture is likely to receive a lot of regulatory oversight.

Last month Warned The U.S. Department of Labor and Labor is still in crypto on pension plans.

“At this early stage in the history of cryptocurrencies, the Ministry is deeply concerned about the wisdom of the trustee’s decision to expose participants to the 401 (k) program for direct investment in cryptocurrencies or other products linked to cryptocurrencies.”

Crypto “poses significant risks and challenges to participants’ pension accounts, including significant fraud, theft and loss,” the ministry said.

What do employers and employees want?

In addition, the success of the Bitcoin 401K product depends on the employer. They ultimately choose whether or not to offer this to their employees. Of course, Michael Saylor’s MicroStrategy has already joined Fidelity’s project.

Thanks to Fidelity, employees can invest directly in Bitcoin without having to open an account with a crypto exchange. Bitcoin is ready for mass adoption and is maturing before our eyes. Now the Netherlands.