Three U.S. Senators Send Letter to Fidelity Investments Asking It to Reconsider Its Decision to Allow 401(k) Plans to Invest in Bitcoin

Three U.S. senators, Richard Durbin, Elizabeth Warren, and Tina Smith, wrote to Fidelity Investments CEO Abigail Johnson on November 21, again asking the company to reconsider its decision to allow 401(k) plan holders to invest in Bitcoin. Said that the digital asset industry is full of "charismatic wunderkinds, opportunistic fraudsters, and self-proclaimed investment advisors." Foresight News previously reported that in April this year, the Fidelity Investment Plan allowed investors to open bitcoin accounts in their 401(k). The 401(k) plan is a retirement benefit plan provided by American companies for employees. A tax-delayed pension savings plan, and this pension can be invested in funds, stocks, etc.