- Michael Saylor’s MicroStrategy has recently announced its plans to facilitate the employees to retire on Bitcoin through Fidelity’s new Bitcoin 401(k) program.
- Bitcoin is a digital property which makes it a perfect asset for the retirement plan, highlights the CEO.
- Bitcoin’s presence seems to be growing by leaps and bounds as this move is one of a kind.
Michael Saylor’s MicroStrategy, the top publicly-traded company to hold the largest amount of Bitcoin (BTC), has now taken another unprecedented move regarding BTC.
The enterprise software maker has recently announced its plans to facilitate the employees to retire on Bitcoin through Fidelity’s new Bitcoin 401(k) program. The firm has highlighted the Bitcoin option for its employees.
The CEO highlighted this through a Tweet that as his firm strives to be a pioneer in BTC for corporations, they are planning to provide their employees an option to invest in BTC as a part of their 401K portfolio.
As @MicroStrategy continues to be a pioneer in bitcoin for corporations, we are planning to offer our employees the option to invest in #bitcoin as part of their 401K portfolio. $MSTR pic.twitter.com/xBFeEugJVj
— Michael Saylor
(@saylor) April 26, 2022
This move is one of its kind that MicroStrategy will take with the support of Fidelity Investments. And it comes following Fidelity’s announcement to let employees add Bitcoin to their 401K retirement accounts.
In discussion with CNBC, Saylor signified that his employees have been asking for a Bitcoin option in their 401K accounts lately. And that Bitcoin is a digital property which makes it a perfect asset for the retirement plan.
Michael Saylor is one of the vehement Bitcoin supporters and is very optimistic about its future potential. And this move might inspire others to carry out something similar.
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But despite such decisions, cryptocurrency as an asset still witnesses skepticism regarding its reliability. And it has always attracted mixed reactions from folks. While some are purely Bitcoin supporters, there are some who are critics of the asset class. But despite all that, Bitcoin has indeed made a significant position in the finance sector.
Source: https://www.thecoinrepublic.com/2022/04/27/microstrategys-remarkable-move-plans-to-provide-employees-bitcoin-retirement-plans/