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Bitcoin Adoption Milestone: 401(k) Plans May Boost Market

19/08 19:43

According to PANews, André Dragosch, Head of European Research at Bitwise, suggests that the inclusion of cryptocurrencies in U.S. 401(k) retirement plans could mark a significant milestone for Bitcoin adoption, potentially unlocking hundreds of billions of dollars in new capital. By the end of 2025, Bitcoin's price could surpass $200,000. Earlier, on August 7, U.S. President Donald Trump signed an executive order allowing Americans to invest in digital assets through their 401(k) retirement plans. Dragosch highlighted that this development might have a more substantial impact on Bitcoin's price than the anticipated approval of a U.S. spot Bitcoin ETF in January 2024. With the 401(k) industry valued at $12.2 trillion, even a conservative 1% allocation could result in approximately $122 billion flowing into the market. As the Federal Reserve considers interest rate cuts and retirement plan managers begin investing in Bitcoin ETFs this fall, Bitcoin's price is expected to reach new historical highs.

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