What a time to have more funds to purchase cryptocurrency since it has drop on average close to 50% from all time highs. A 401k provider, ForUsAll Inc, has come out with a joint coloration with Coinbase to allow its customers to invest up to 5% of their 401k into cryptocurrency.
401k Cryptocurrency
It may appear to be small considering 5% of a 401k being the limit. However there is over $28 trillion of assets in 401k that is invested in the markets.
In addition to allowing 401k money to be invested in crypto it is important to note that 401k money is usually held long term, until the investor retires. With assets that are in crypto for the long haul it will stabilize coin prices as more money is supporting the assets.
Conclusions
This is only the beginning of another asset class, 401k, that can be used to invest into cryptocurrency. Imagine the limit of only 5% buy is removed and how much more liqudity can flood into the crypto market. As of current crypto prices the market cap is a little under $1.5 trillion. If 401k assets are $30 trillion then 5% of that is $1.5 trillion. Look at the potential amount of dollars that can be invested in crypto.
None of this is cryptocurrency investment advice. This is for entertainment purposes only. Thanks for reading.
WSJ 401k for Crypto Source Article
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