Bitcoin market cap is $740 Billion.
Retirement market in the USA is $25 Trillion.
The difference between these two numbers shows just how early we are, but Fidelity is about to speed things up.
One of the world’s largest asset managers with over $4 Tr of AUM, Fidelity is reportedly considering allowing 401(k) employer-sponsored retirement plans to invest up to 20% in Bitcoin.
The idea is not new: some smaller financial institutions, like ForUsAll, have been proposing to allocate up to 5% of their portfolio to Bitcoin since last summer.
However, Fidelity can sustain this trend on a whole other level. Not only its 20% is a much more assertive position, but the company itself is a big player, providing 401(k) plans to over 23’000 companies.
Fidelity has been crypto enthusiastic for a while already, and its recently opened outlet in the Decentraland metaverse promoting crypto and financial knowledge is a clear position statement.
Big finance starts preparing its future, which is increasingly crypto conscious.