Two members of the US Senate are writing a letter to financial services giant Fidelity presenting issues with the firm’s new plans to offer Bitcoin (BTC) as an option for 401(k) retirement plans.
In a letter penned to Fidelity CEO Abigail Johnson, Senators Elizabeth Warren of Massachusetts and Tina Smith of Minnesota express doubts about the blue-chip institution enabling individuals to include BTC into their retirement funds.
The Senators say that the top crypto asset by market cap’s history of volatility is of chief concern.
“Investing in cryptocurrencies is a risky and speculative gamble, and we are concerned that Fidelity would take these risks with millions of Americans’ retirement savings. Bitcoin, the cryptocurrency your company has deemed sound enough for your customers’ retirement savings accounts,