Fidelity’s move to invest in Bitcoin with retirement savings has prompted the US Department of Labor.
According to a report by the Wall Street Journal, the Bitcoin move of the leading investment company Fidelity has caused serious concerns in the US Department of Labor. In the news, it was stated that an official from the institution used the words, “We have serious concerns about what Fidelity is doing.” As a cause for concern, the “speculative” nature of crypto assets and fomo were highlighted. The official also suggested that cryptoassets have “interesting uses”, but that it must first “maturate” for such a step.
As we reported earlier, Fidelity has said that it will allow employees to invest in Bitcoin through their retirement savings if employers allow it. The company pointed to this article for the move.
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