From big finance corporate giants such as PwC, Schroders and Fidelity Investments to the regular run-of-the-mill crypto day trader, putting money in crypto at a time when its regulation is lowest couldn't be any smarter a move. With increasing regulatory fears over the freedom of cash movement into the various crypto asset classes and funds out there, perhaps now is the time to weighing up the usefulness of such a decentralized currency.
Boston-based Fidelity Investments were the first to initiate a comprehensive 401(k) retirement annuity savings plan purely invested in cryptocurrency to the US Department of Labor (DOL). There were several concerns held by the DOL, such as the widely-known price volatility of cryptocurrencies such as Bitcoin. A great example of this is Elon Musk's tweet on 24th May 2021, encourage Bitcoin miners to use more renewable energy, which consequently made the Bitcoin price drop from an opening price of over USD$39,000 to a closing price of USD$37,000.
By the following Sunday, which was only just five trading days later, the Bitcoin price had plummeted to USD$32,000; one of the most bearish market trends ever seen. Such power of the subjectivity of wealthy influencers such as billionaire Elon Musk, perhaps can never provide the stability that an old-timer desperately needs in the final stages of their life. Well, it's a gamble. Some knowledge and understanding of not only cryptocurrency markets with their various asset classes (stablecoins; crypto-funds; CBDCs; etc.), but of the principle fundamentals of Capital Markets and Securities, is needed.
When PwC announced their crypto financial advisory services to their clients and opening new crypto funds, everyone couldn't believe it. We were all held tight to chest with such shock, that an established, respectable auditing firm, needless to say one of the big four financial giants of the world, would ever commit such folly as to join in the crypto wagon. You know that something's special when such respected members of society are getting in on it to. PwC has dedicated a whole "Crypto Center", and also specialise in helping clients save in crypto with aim for retirement.
Various other crypto options exists for pension planning purposes online, and some cities like Fairfax county in Virginia USA, have considered putting some of their public workers' (teachers; nurses; policemen) money into crypto, as a Hail Mary attempt to fatten the calves of their pension pots.
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