Sens. Elizabeth Warren and Tina Smith voiced concerns about Fidelity Investments’ plan to include bitcoin in customers’ 401(k) accounts, calling it “a risky and speculative gamble.”
Sen. Elizabeth Warren voiced concerns about Fidelity Investments’ plan to include bitcoin in customers’ 401 accounts, calling it “a risky and speculative gamble.”
““Investing in cryptocurrencies is a risky and speculative gamble, and we are concerned that Fidelity would take these risks with millions of Americans’ retirement savings.”” “When Fidelity made its decision to allow sales of bitcoin in retirement accounts, how did the company address its own conflicts of interest, given that the company now is both a bitcoin miner and a purveyor of bitcoin?” they asked.
In a statement to the media Thursday, Fidelity responded: “As a Massachusetts-based company with a proven 75-plus-year history of doing what’s in the best interest of our customers, we look forward to continuing our respectful dialogue with policy makers to responsibly provide access with all appropriate consumer protections and educational guidance for plan sponsors as they consider offering this innovative product.
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