US-headquartered Fidelity Investments has become the first major retirement provider to accept bitcoin as an investment option subject to an overall exposure limit.
The Boston-based investment house said it would allow investors to add a bitcoin account to their 401(k) retirement savings and investment plans, the Wall Street Journal reported today (26 May).
The 23,000 companies that use Fidelity to administer their retirement plans will have the option to add bitcoin to their plans later this year, it said.
Investors will be permitted to allocate as much as 20% of their nest eggs to bitcoin.
Dave Gray, head of workplace retirement offerings and platforms at Fidelity, said the plan will initially be limited to bitcoin, but expects other digital assets to be made available in the future.
