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MicroStrategy to Offer Workers Bitcoin Options in 401(k) Accounts via Fidelity
CEO Michael Saylor’s tweet comes the same day Fidelity said it will begin offering bitcoin investments in its 401(k) accounts later this year.
By Cam Thompson
Updated May 11, 2023, 6:52 p.m. Published Apr 26, 2022, 3:16 p.m.
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MicroStrategy (MSTR) plans to offer its employees access to bitcoin retirement plays through Fidelity’s new bitcoin 401(k) service, CEO Michael Saylor tweeted Tuesday.
“MicroStrategy looks forward to working withFidelity Digital Assets to become the first public company to offer their employees the option to invest in bitcoin as part of our 401(k) program,” Saylor said in his tweet.
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Earlier Tuesday, Fidelity said it would give corporations who use its retirement savings rails a bitcoin investment option later this year. Fidelity is one of the largest 401(k) providers working with 23,000 corporations. The move is a further signal of the legitimization of bitcoin, although with the crypto’s wild price swings it's hardly a safe bet for the faint of heart.
MicroStrategy is best known in the cryptosphere for its aggressive bitcoin acquisition strategy. Earlier this month, the company purchased 4,157 BTC for about $190.5 million, bringing its total trove of holdings to 129,218 bitcoins, or $5.1 billion.
MicroStrategy and Fidelity did not respond to requests for additional information by press time.
Fidelity CEO Abby Johnson is scheduled to speak at Consensus 2022 in June.
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