Finance Minister Janet Yellen warned that inclusion of Bitcoin and other cryptocurrencies in retirement plans is a “very risky investment.”
Yellen’s comments were made at the event. New York Times in washington In response to questions about Fidelity’s April announcement that it would allow workers to save up to 20% of their retirement funds in Bitcoin.
“This is not something I would recommend most people to save for retirement,” she said. “For me, it is a very risky investment.”
The U.S. Department of Labor previously signaled its objection to Fidelity allowing Bitcoin to be held in retirement accounts. by saying that there “Serious concern” over this decision
Yellen’s attitudes towards crypto over the years have been mixed. She was “not a fan” of Bitcoin in 2018, but she recently admitted that there are some benefits to technology as well as innovation.
The post “Bitcoin is a very risky option. for saving for retirement,” said Janet Yellen of the U.S. Treasury, appeared first on Bitcoin Addict.