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3 US Senators send letter to Fidelity warning against offering bitcoin in 401ks

3 US Senators send letter to Fidelity warning against offering bitcoin in 401ks



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25 Comments

  1. The letter presents the weakest criticisms that can be addressed with basic research on topic. These senators clearly have no understanding of Bitcoin or what separates it from other cryptocurrencies, which fidelity articulatrly explained in their own investment write up available to the public.

    The letter also referenced the last bull run high and the current bear market price of $20,800. This won’t age well lol.

    I’m looking forward to fidelity’s response.

  2. “When ~~bitcoin~~ Netflix topped out at ~~$68,000~~ $700 in November 2021, many of those proponents sounded prescient. Today ~~bitcoin~~ Netflix stands at ~~$20,849~~ $225 — more than two-thirds off it’s peak.”

    These people are such clowns. Trying to act like they’re protecting the American people when, in fact, they’re just trying to protect the dollar. Don’t see any of them screaming for 401Ks to take Netflix or Meta out of their mix.

  3. Elizabeth Warren really does think she is America’s queen. She thinks she rules the place. Who TF is she to tell Fidelity how to run their 401k offerings? Just, holy hell.

    Disgusting.

  4. I would like to take their course “Why the US Dollar is the Way for the Near and Long Term Future”. I would like to genuinely learn why they are so confident.

    I am absolutely not rooting against the US dollar, I definitely fear the unknown if it disappears. I just want to know why they are so confident in its present/future, that they see fit to write such a letter.

  5. Those who fear Bitcoin fear transparency. Imagine what would happen if government spending were put on a blockchain like Bitcoin.

    Imagine what you would discover if the aid politicians give to foreign countries were put on a blockchain.

    Politicians don’t fear crypto, they fear transparency!

  6. Who cares?

    1) Bitcoin held by keys you control is far more desirable than bitcoin held by an institution as an “IOU.”

    2) For the network, Bitcoin held by individuals is far more desirable than bitcoin held by large institutions like Fidelity. Think Grayscale.

    3) Maybe the price would be higher if institutions like Fidelity were adding buying pressure to the market. But, for those who really believe in Bitcoin, and still have disposable income, it is best that Bitcoin have as low of a price as it can, for as long as it can. That would result in #2, more individuals being able to hold more bitcoin.

    There are no real merits to large financial institutions holding large amounts of bitcoin when it’s never been easier for individuals to custody their own assets in a sovereign way.

  7. It’s about time we as a group got politically organised. I’m not in the States, so I can’t join in your fight, but I’ve been actively spamming my local politicians about their stance on BTC, and I plan on continuing to let them know that my vote depends on a progressive BTC policy.

    If all of us started doing this there would be a reasonable amount of pressure. It won’t make much difference, but it will tell them that they are losing votes when they try to attack us.

  8. So bitcoin is gambling but stocks are not? The only person not gambling on stocks is Pelosi and other insiders. The rest of us are taking in information and betting with our wallets. If I want to “gamble” on MY retirement account, that is MY choice and MY money. What is so hard about this? Who votes for these morons?

  9. Elizabeth Warren has no problem supporting policies that will inflate away retirement funds but at the same time will speak out against a company bringing a product to market to mitigate that risk for their customers…

    Hypocritical!!!

  10. Even IF you think it’s too speculative for your own risk capacity, the government has no place trying to make that decision for adults. It’s their money. They get to make their own decisions

What do you think?

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