The ability of cryptocurrencies to offer higher returns than bank investments makes them attractive to more people. When the market was stable, more and more people took advantage of it to increase their income. Now, some want more and want to enjoy the rewards of digital assets in their retirement plans.
Crypto to boost the retirement plan!
In the United States, a study showed that nearly half of Generation Z and millennial workers would like to have crypto assets in their 401 (k) retirement plans. Notably, 46% of Gen Zs and 45% of Millennials have said they want to invest in cryptocurrencies as part of their retirement planning. Furthermore, the survey showed that 43% of Gen Z and 47% of millennials are already investing in cryptocurrencies. That aside from their retirement plans.
This emerges from a investigation of US wealth manager Charles Schwab. To achieve these results, the company interviewed 1,100 participants. Participants work for companies with at least 25 employees and have a 401 (k) retirement plan. Recall that millennials refer to people born between the early 80s and mid 90s. Generation Z, people born between the mid to late 90s and early 2010s.
These findings contrast with a survey of millennial workers and boomers. These two groups include people born between the 1940s and the late 1970s. Respectively, 31% and 11% of these want to incorporate cryptocurrencies into their retirement plans.
What efforts for the introduction of digital assets in pension plans?
In the United States, there is a great deal of controversy over the issue of introducing cryptocurrencies into retirement plans. The case has divided the senators for several months. Some like Elisabeth Warren of Massachusetts believe it “It’s too risky to expose hard-earned money to casinos”.
But the lines are moving little by little. This year, wealth manager Fidelity Investments launched a bitcoin (BTC) investment scheme for holders of 401 (k) pension plans. Bitcoin (BTC) can occupy up to 20% of the wallet size. In Australia, Rest Super became the first pension fund to offer a cryptocurrency allocation in November 2021. Several initiatives are being developed here and there in the United States.
However, things can go wrong. A Quebec pension fund recently lost nearly all of its $ 154.7 million invested in the Celsius crypto lending platform.
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Far from dulling my enthusiasm, a fruitless investment in a cryptocurrency in 2017 only increased my enthusiasm. I therefore decided to study and understand the blockchain and its multiple uses and to transmit information relating to this ecosystem with my pen.