Trump to Approve Cryptocurrency Investments in 401(k)s; Bitcoin Soars
Crypto/Finance
 Trade Crypto on eToro

Trump to Approve Cryptocurrency Investments in 401(k)s; Bitcoin Soars

President Trump's forthcoming executive order may authorize Bitcoin, private equity, and real estate within U.S. retirement accounts.

The U.S. President Donald Trump is set to sign an executive order facilitating investments in cryptocurrency, private equity, and real estate for 401(k) retirement accounts, as reported by Bloomberg.

While specifics of the directive are yet to be revealed, sources indicate that it would instruct the Department of Labor to relax fiduciary restrictions that hinder plan administrators from offering such investment products.

Key Points:

  • President Trump is expected to authorize crypto, private equity, and real estate investments within 401(k) plans.
  • Following the announcement, Bitcoin surged nearly $800, signaling increased market enthusiasm and activity in derivatives.
  • The initiative comes after previous concerns voiced by the Department of Labor regarding inadequate oversight of crypto in retirement plans.

Bitcoin BTC recently experienced a jump, rebounding from a low of $114,900 to nearly $115,670 in a short span due to optimism surrounding long-term crypto adoption. Despite not breaching the $120,000 mark again, the renewed interest reflects a stirring bullish sentiment in the market.

Concerns had emerged at the close of 2024 regarding the viability of cryptocurrencies in retirement plans, primarily because the Department of Labor was reportedly ’lacking the data’ to manage the increasing prevalence of crypto holdings.

For more insights, view Bitcoin’s volatility update.

Next article

XRP Rises to $3 but Faces Resistance with Increased Trading Volume

Newsletter

Get the most talked about stories directly in your inbox

Every week we share the most relevant news in tech, culture, and entertainment. Join our community.

Your privacy is important to us. We promise not to send you spam!