The US-based retirement plan provider Fidelity Investments is reportedly releasing supporting features for 401(k) retirement saving account holders to make direct investments in Bitcoin (BTC). 

Specifically, the freshly finalized Bitcoin retirement investment plan would reportedly be functional officially in later 2022. 

The plan reportedly aims to make it possible for more than 23,000 firms currently have connections with Fidelity to administrate their retirement accounts, to make Bitcoin investment options available to the customers. 

Should the proposal to dedicate BTC to their savings account receive the go-ahead from employers, it will reportedly enable retirement savers to allocate a maximum of 20% of their portfolio in Bitcoin. 

At the moment, Fidelity is holding talks with a few of the employers that use its services, and MicroStrategy has already given the green light to the BTC investment plans.

The idea to have Bitcoin as one possible investment option for retirement savings accounts has not just surfaced. Earlier in June last year, another retirement plan provider, ForUsAll, teamed up with Coinbase to provide BTC exposure to its retirement savings accounts holders.  

Nonetheless, Fidelity’s interest in the industry would no doubt bring about elevation to the concept, helping it reach mainstream easier.

Dave Gray, head of workplace retirement offerings and platforms at Fidelity Investments, additionally claimed that the plan to release supporting features for Bitcoin exposure to 401(k) plan holders was fueled by high demand recorded among its customers. 

“We started to hear a growing interest from plan sponsors, organically, as to how could Bitcoin or how could digital assets be offered in a retirement plan. We fully expect that cryptocurrency is going to shape the way future generations think about investing for the near term and long term.”