*Note: Since I published this article, Fidelity has come out and said clients cannot invest in bitcoins in their IRA. I suppose somebody received a phone call.
Well this is simply huge. As much as many people want Bitcoin to simply go away (see my recent interview on the topic with Miles Franklin), it is simply not happening. This news represents a very, very positive development. Fidelity deserves a lot of credit for taking the lead on this. This is the first big, conventional firm yet in the U.S. to integrate/allow BTC.
From Market Watch:
Fidelity has partnered with SecondMarket’s Bitcoin Investment Trust to allow its clients to save for their retirement by putting the virtual currency in self-directed IRAs.
“If you are a Fidelity client, you can now invest in the Bitcoin Investment Trust through an IRA,” said Barry Silbert, chief executive of SecondMarket, in an interview.
The Bitcoin Investment Trust is an open-ended trust that launched in late September and only invests in the virtual currency. The trust, which is only open to accredited investors, had $62.6 million in assets under management as of Tuesday.
Full article here.
In Liberty,
Mike
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What could be more mainstream than Fidelity, they’re the CNBC of the investment space.
And they embrace digital currency Bitcoin.
Be afraid, be very afraid.
@no the best way to break the bitcoin is to scare YOU!
and they do its like this…..
And you are just reacting the way they want it.
Bitcoin is a Bankster plot to keep people’s money under heir control and to attempt to get people away from gold. Max K is a being “used” to give it – Bitcoin – exposure and credibilty to the gold bug community. China likes gold, not bitcoin.
Ross, how the heck do you know Bitcoin is a bankster plot? Are you a bankster? Where’s your proof?