Following Fidelity’s move to offer Bitcoin as part of its retirement 401(k) accounts, MicroStrategy CEO Michael Saylor opined that the digital asset is a perfect fit for retirement, even better than bonds.
Saylor: Bitcoin is the perfect asset for retirement
In a interview with CNBC On Tuesday, Saylor pointed out that Bitcoin is a much better investment choice than popular traditional asset classes including gold, stocks and bonds.
According to the MicroStrategy chief, the leading cryptocurrency is less risky and much safer than traditional assets, making it the perfect option for retirement.
“Bitcoin’s digital ownership and that makes it the perfect asset for a retirement plan. It’s less risky than bonds, stocks, commercial real estate and gold,” he said.
MicroStrategy’s Employees to Access Bitcoin 401(k)
Saylor added that the business intelligence software company intends to work with Fidelity Investments to offer its employees access to Bitcoin retirement 401(k) accounts.
The Bitcoin proponent noted that he was excited to offer MicroStrategy employees the option of having BTC in their 401(k) accounts, given the potential of the asset.
He also stated that Fidelity’s latest move will fill “an important vacuum” in the investment industry and boost the legitimization of Bitcoin among mainstream users.
Fidelity launches Bitcoin 401(k) option
Fidelity Investments is a leading financial services company and the largest provider of 401(k) plans in the United States with $2.7 trillion in assets under management (AUM).
The company announced Tuesday that it plans to offer Bitcoin as an option for its 401(k) accounts by the middle of this year. This makes Fidelity the first major 401(k) provider to do so.
“It’s a technical challenge to offer a 401(k) savings plan, and Fidelity overcame that. So we’re really excited to be able to offer that to our employees… A 401(k) plan is a pretty common thing for millions and millions of working people to use to save to protect their family interests. This will fill an important void in the market for investment products,” said Saylor.
MicroStrategy is currently the largest corporate holder of bitcoin. The company has over $5 billion worth of the cryptocurrency in its portfolio and the CEO has repeatedly stated that the firm has no intentions of selling its BTC stash anytime soon.
