Bitcoin price surged to $116,850, up over 2%, after reports of President Trump planning an executive order to allow crypto in 401(k) accounts. This order aims to direct the Labor Department to reevaluate regulations surrounding alternative investments within retirement plans, potentially offering broader access to Bitcoin for Americans. The changes could reshape institutional investment in Bitcoin, which has been gaining momentum with companies increasingly adopting the cryptocurrency. The new guidelines might clarify fiduciary responsibilities, removing barriers for retirement plan providers and facilitating more sophisticated Bitcoin investment options.
“The executive order will direct the Labor Department to reevaluate existing guidance around alternative investments in retirement plans governed by ERISA.”
“Opening up 401(k)s to Bitcoin investments could fundamentally reshape the institutional landscape for Bitcoin and potentially drive significant new capital into the space.”
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