Why Institutions Are Finally Buying Bitcoin
Fidelity Investments is the largest 401(k) provider in the United States. Just this month, the company announced that it will be the first to offer clients exposure to Bitcoin (CRYPTO: BTC) through its 401(k) plans.
Fidelity has 20.4 million clients and manages nearly $2.7 trillion of assets. Now these customers can allocate a portion of their portfolio to the world's leading cryptocurrency. It's a move that most expected would eventually come but has finally arrived.
By offering retail investors exposure to Bitcoin, Fidelity has validated that this is not just some fad. Fidelity knows there is money to be made in this market. Ultimately, Fidelity's goal is to remain competitive as a 401(k) provider by offering clients new, innovative products. The company is in it for the money, like all of us. The better results it produces, the more profit it earns.
Source Fool.com
