No, Fidelity's Retail Clients Can't Save For Retirement In Bitcoin

You may have heard that Fidelity, the world’s largest IRA provider, was now
providing their clientswith the
means to invest in Bitcoin.

This is not accurate.

“At this time, Fidelity does not allow investments in the Bitcoin Investment Trust through our retail platform, including in IRAs,” a Fidelity spokesman told Business Insider in an email.

However, accredited investors with IRA accounts do have access, according to SecondMarket.

But to be an an accredited investor, you must be worth more than $US1 million — excluding your primary residence — or have made over $US200,000 a year for the past two consecutive years.

Basically, you have to be someone like venture capitalist Chamath Palihapitiya, an owner of the Golden State Warriors, who announced his Bitcoin retirement account last week:

However, since at least November, investment management firms PENSCO and Entrust have also offered Bitcoin retirement options, according to SecondMarket — although here again, you must be an accredited investor, according to SecondMarket

Widespread retirement on your Bitcoin savings could happen some day.

But it’s still in a pretty nascent, amorphous stage.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.