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Reuters

Fidelity to allow retirement savings allocation to bitcoin in 401(k) accounts

The family controlled asset manager said MicroStrategy Inc, a major bitcoin corporate backer, will be the first employer to use the new product, which will be made available to other employers by the middle of the year. Through the new offering, employees will be able to invest in bitcoin through a Digital Assets Account (DAA) within the core lineup of their 401(k) plans, Fidelity said. Fidelity also said that Newfront, a retirement consulting services provider, has indicated that the DAA will help address a growing need among their client base.

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