This U.S. Senator discloses vast Bitcoin holdings while talking of 401k plans

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Senator Cynthia Lummis believed that everyone should make Bitcoin part of their retirement savings However, BTC’s volatility made the plan contentious Cynthia Lummis, Wyoming’s United States Senator, has been a staunch supporter of cryptocurrencies for quite some time now. The US lawmaker, who has also been referred to as Washington’s “Crypto Queen,” previously disclosed that […]

announced its plans to let investors add Bitcoins to their 401k retirement accounts. A 401k is a retirement savings plan offered by many American employers which holds annual contributions. This was a major move, given that Fidelity catered to 23,000 companies as their retirement plan provider.concerns given the volatile nature of cryptocurrencies.penned by Senators Richard Durbin, Elizabeth Warren and Tina Smith, to Fidelity Investments.

Furthermore, at the time of writing, she had a bipartisan bill in the pipeline, which would reportedly treat cryptos as commodities. The bill would reportedly be introduced in January 2023.Subscribe to get it daily in your inbox.

 

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