US Firm Launches Company-Sponsored Bitcoin Retirement Plans

US Firm Launches Company-Sponsored Bitcoin Retirement Plans

After running a year-long test, Digital Asset Investment Management (DAiM), a U.S.-based crypto investment advisor, has launched what it says are the first company-sponsored retirement plans supporting bitcoin.

DAiM will serve as an advisor and fiduciary while helping companies create a 401(k) plan that allows a maximum allocation of up to 10% in bitcoin alongside varying degrees of exposure to traditional assets, according to an announcement Thursday.

Cryptocurrency associated with the Employee Retirement Income Security Act (ERISA)-compliant plans will be held in New York-regulated Gemini Trust’s cold storage custody.

“From the moment we were approved by the State of California in June 2018, we’ve seen incredible inbound demand from individuals eager to invest bitcoin in 401(k)s,” DAiM said in the announcement, adding that conventional plans’ inability to keep up with inflation is a bad deal for savers.

Individuals can choose to take a bigger exposure to bitcoin following a consultation with DAiM and will be able

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