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Bitcoin has an undeniably prominent presence in the world right now as a multitude of companies, organizations and even individuals are embracing it. The utility offered by the flagship crypto asset is unlike any other digital currency in the market.
Another contemporary use of the crypto king, planned by the mutual fund giant Fidelity Investments is to allow the allocation of retirement funds to Bitcoin.
The price of BTC fluctuates a lot but it does not negatively impact how a large audience sees it. The popular digital asset is currently trading at $40,521 (at the time of writing) after struggling to reach this level over the last 24 hours.
Here is a graph by CoinMarketCap that shows the price movement of Bitcoin during the period mentioned above.
While some people have been a bit skeptical about this initiative, others believe it to set a milestone in the USA. Let’s find out more about Fidelity’s plans to introduce Bitcoin.
Meanwhile, if you are interested in purchasing the crypto asset then you need to make sure you first find how to buy Bitcoin and then proceed.
If you are looking to leverage trade Bitcoin up to 100x, sign-up on Bybit today. You can also use this link to claim a bonus on your first deposit.
Can Bitcoin Be Easily Added to the Pension Plans?
Fidelity Investments is the top provider of pension plans in the United States of America. The investment behemoth is based in Boston and handles the retirement savings of over 20 million people.
If Fidelity Investments succeeds in adding and promoting BTC in the pension plans, it can bring about a massive change in the country.
Since the demand for Bitcoin is growing more and more every day in the USA, the pension plan provider has taken the initiative to allow customers to add BTC to their 401(k) savings plans.
The option to add Bitcoin to the pension plans will start later this year and will charge a fee of up to 0.9%.
While the plan seems all mapped out by Fidelity, a successful execution does depend on a few factors.
Since saving plans are highly regulated, it is anticipated that Fidelity’s BTC-based initiative will be scrutinized a lot by the regulatory bodies.
Another major aspect is that the adoption of the new BTC-focused product will greatly depend on how willing the employers will be to add the flagship crypto asset to the retirement funds of the employees.
Even though there are a few uncertainties with this new plan, MicroStrategy has already signed up for it, which is a positive indication for many. MicroStrategy is the largest corporate company that holds the most BTC at the moment.
If you are also interested in becoming a BTC investor then make sure you opt for the best Bitcoin exchange that is secure and suits your needs the most.
What Should Novice Investors Know Before Buying BTC?
Buying, selling or even trading crypto assets are not as simple and easy as one may think. There are security risks and other factors to look out for.
However, as a beginner, if you have some helpful information beforehand, you can avoid the unnecessary obstacles, face minimum risks and even find it easier to invest in a digital asset such as Bitcoin.
Here are some helpful tips novice parties need to keep in mind before they start buying crypto.
- Make sure they opt for the best and lowest fee Bitcoin exchange
- Always keep an eye on the price movement of BTC and know when to buy
- Start by investing as much as they can afford to lose.
If you are new to the crypto space and want to invest in Bitcoin then you can click on SwissBorg or Kraken (U.S. citizens).
[swissborg]
