Sen. Elizabeth Warren (D-Massachusetts) is calling on Fidelity Investments to explain its decision to allow its investors to add Bitcoin (CRYPTO: BTC) to their 401(k) retirement accounts.
What Happened: Warren and Sen. Tina Smith (D-Minnesota) sent a letter to Fidelity CEO Abigail Johnson expressing concern about the company’s new Digital Assets Account, which allows investors to have a portion of their retirement savings allocated to Bitcoin through their 401(k) plan. The senators claim Fidelity ignored a U.S. Department of Labor warning to 401(k) plan fiduciaries to exercise “extreme care” when deciding to include cryptocurrency as an investment vehicle.
“Investing in cryptocurrencies is a risky and speculative gamble, and we are concerned that Fidelity would take these risks with millions of …
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