What to consider before adding bitcoin to your retirement savings

What to consider before adding bitcoin to your retirement savings

Some investors may soon be able to add cryptocurrencies to their 401(k) accounts. Fidelity Investments announced Tuesday it will begin allowing investors to put , making it the first provider to do so. The offering will be available midyear for the 23,000 companies that use Fidelity for their retirement accounts. (Of course, your employer, as the plan sponsor, has to agree to it.) Some investors may be wondering if cryptocurrencies have a place in their retirement savings. Many financial advisors say , and have noted that clients have already been adding it to their investments outside of employer-sponsored retirement savings. "I think most retail investors are looking for exposure to something that just gives them the opportunity to participate in what they hope will be the appreciation of over the long-term," said Douglas Boneparth, a certified financial planner and president of Bone Fide Wealth in New York. "And if this account accomplishes that, I'm elated to see that, I think it's wonderful." Of course, investors shouldn't rush to add bitcoin or other crypto assets to their 401(k) plans just because they can. Instead, make sure that if you are going to add it to your retirement account that it fits