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Fidelity says it will offer crypto in retirement accounts this year

Fidelity, the largest retirement plan provider in the United States, announced plans to offer bitcoin in 401(k) retirement accounts to its account holders later this year. The company is set to allow investors to allocate up to 20% of their 401(k) accounts to bitcoin, though employers will have the ability to lower that cap, Dave Gray, head of workplace retirement offerings and platforms at the asset manager, told the Wall Street Journal. The Boston-based asset manager, which administers plans covering more than 20 million participants representing $2.7 trillion in assets, said the launch is expected to take place by midyear, debuting at bitcoin supporter Michael Saylor’s firm MicroStrategy, which holds billions of dollars of the asset on its balance sheet.

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