Hold onto your hats, folks! In what might just be one of the most surreal chapters of US economic policy, President Donald Trump is reportedly about to sign an executive order that could allow American 401(k) retirement plans to dip their toes into the wild and wacky world of cryptocurrency. Yes, you heard that right—crypto in your retirement savings! 🤑
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Trump’s Decision is the Final Word—Because of Course It Is
But wait—before you start packing your bags for a crypto-filled retirement paradise, remember: nothing is official until Trump himself makes it official. At least, that’s what White House spokesman Kush Desai had to say when speaking to CryptoMoon. In true political fashion, Desai reminded everyone that no major moves should be taken as gospel unless they come straight from the horse’s mouth (or in this case, the orange-tinted mouth). 🤔
“No decisions should be deemed official, however, unless they come from President Trump himself.”
Ah, the sweet sound of government bureaucracy in action. But hold on—this isn’t a total surprise. Back in May, the US Labor Department took a step back from previous guidance that had limited the use of crypto in retirement plans under the Biden administration. So, there’s been some movement in the crypto-for-retirement space. 🚀
Speaking of movement, Fidelity—yes, the company with $5.9 trillion in assets—decided to throw its hat into the ring this past April. They launched a new retirement account allowing Americans to put their hard-earned money into crypto. Who said retirement couldn’t be exciting? 🎉
The Traditional 401(k) Is About to Get a Makeover
If you’re unfamiliar with the 401(k) setup, here’s the rundown: it’s a retirement savings plan that lets US employees save and invest a portion of their paycheck before taxes are taken out. Usually, these plans focus on things like mutual funds, exchange-traded funds, and a bunch of other financial jargon that only your accountant can explain. The 401(k) market is huge—valued at $8.9 trillion as of September 2024, with more than 715,000 plans in place. So, yeah—this is a big deal. 💰
And if you think America is the only country eyeing this whole “crypto in retirement plans” idea, think again. Other nations are dipping their toes into these murky waters too. For example, North Carolina lawmakers have already introduced legislation that could see state retirement funds allocate up to 5% of their assets into crypto, like Bitcoin. Talk about thinking outside the (retirement) box! 🧐
Other Countries Are Eyeing Crypto for Retirement Funds Too
It’s not just America getting in on the action. Over in the UK, a pension specialist reported last November that a certain “unnamed scheme” allocated 3% of its funds into Bitcoin. Meanwhile, Japan’s Government Pension Investment Fund is also considering Bitcoin as a potential way to diversify their portfolio. Because who wouldn’t want to add a little cryptocurrency flair to their retirement savings? 🤷♂️
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2025-07-18 04:46