Kevin Slater Posted April 26, 2022 Share Posted April 26, 2022 This article may be behind a paywall, but the upshot is that coming later this year, Fidelity will allow Bitcoin in 401Ks they administer, likely with other crypto options to follow. Whether your 401 will allow it will partially depend on your employer. Not sure how this will play out with solo 401s. https://www.wsj.com/articles/fidelity-to-allow-retirement-savers-to-put-bitcoin-in-401-k-accounts-11650945661?mod=latest_headlines Kevin Slater Link to comment Share on other sites More sharing options...
handiacefailure Posted April 27, 2022 Share Posted April 27, 2022 The is a new ETF out there that is invested in crypto currency as well for people with an indiivdually controlled Roth or IRA. I wouldn't be wanting to put any of my retirement money in crypto unless it's a very small amount. Link to comment Share on other sites More sharing options...
Luv2play Posted May 11, 2022 Share Posted May 11, 2022 The jury may still be out but Bitcoin and other cryptocurrencies are not holding up well against inflation nor are they weathering the current market downdrafts very well. It seems they are performing like the Nasdaq these days, that is going deep into bear territory. Of course 12 months from now they may be riding high again. Or they could be in the trash. BonVivant 1 Link to comment Share on other sites More sharing options...
Kevin Slater Posted May 12, 2022 Author Share Posted May 12, 2022 32 minutes ago, Luv2play said: The jury may still be out but Bitcoin and other cryptocurrencies are not holding up well against inflation nor are they weathering the current market downdrafts very well. It seems they are performing like the Nasdaq these days, that is going deep into bear territory. Of course 12 months from now they may be riding high again. Or they could be in the trash. According to this article there is an 82% correlation between bitcoin and the Nasdaq, which sort of diminishes some of the appeal of crypto. Kevin Slater BonVivant, + nycman and + The Big Guy 1 2 Link to comment Share on other sites More sharing options...
Kevin Slater Posted July 25, 2022 Author Share Posted July 25, 2022 Just an update I came across: https://www.barrons.com/articles/fidelity-fintech-bitcoin-401k-51658523063?siteid=yhoof2&tesla=y Kevin Slater Link to comment Share on other sites More sharing options...
+ nycman Posted July 25, 2022 Share Posted July 25, 2022 (edited) I can’t imagine a worse idea. Your 401(k) is no place for speculative investing. Not saying it’s a good or bad investment, but it certainly is speculative. Edited July 25, 2022 by nycman handiacefailure and + Charlie 1 1 Link to comment Share on other sites More sharing options...
OCClient Posted July 25, 2022 Share Posted July 25, 2022 (edited) 5 hours ago, Kevin Slater said: Just an update I came across: https://www.barrons.com/articles/fidelity-fintech-bitcoin-401k-51658523063?siteid=yhoof2&tesla=y Kevin Slater The first reader comment I found for that article predicted Fidelity's decision will come back to haunt them. I agree. A quick look at Bitcoin down 55% YTD vs NASDAQ down 23% YTD suggests to me crypto is not tracking the NASDAQ as suggested in this thread. When I lived in the Midwest a weekly agricultural show, called Market to Market, had guest pundits that would predict where the price of beans or pork bellies was headed. One could tell these guys really didn't know, anymore than relying on The Farmers Almanac to predict yields. For me, the folks that are promoting crypto are even more lacking solid knowledge where the price is going next. At least pork bellies represent a true underlying value. Crypto, not. IMO the demand is only sustained by the crypto industry itself shilling for more to join the market. And now Fidelity has come aboard. Does anyone see similarities to a pyramid scheme? In this case, the ability to join the scheme requires just a few keystrokes. I try not to judge my coworkers that joined the crypto train as pigeons. I do worry how they have sacrificed a large piece of their nest egg. Full disclosure, I moved all my qualified retirement $$ from legacy Fidelity accounts over to Vanguard at the end of last year. Glad that I did. Edited July 25, 2022 by OCClient + nycman 1 Link to comment Share on other sites More sharing options...
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