The post Trump to Sign Executive Order for Bitcoin in 401(k) Plans appeared first on Coinpedia Fintech News
U.S President Donald Trump is pushing for a big change in how Americans save for retirement. He plans to sign an order that could open the door for crypto, including Bitcoin, to be part of 401(k) plans.
While it’s not an official rule yet, this move could reshape the $12.5 trillion retirement market and give Bitcoin more exposure, possibly leading to a strong price surge as more money flows in.
Trump Hints at Bitcoin in 401(k)s
On August 7, Trump is expected to sign an order asking the Labor Department to rethink retirement rules. The move aims to allow alternative investments, possibly even crypto, inside 401(k) plans, which are currently limited by the Employee Retirement Income Security Act (ERISA).
The order will involve the Labor Department, Treasury, and SEC working together to review possible rule changes.
Trump also mentioned that people should have the freedom to invest their 401(k) money “even into Bitcoin.” But so far, it’s just a suggestion, not an official plan.
If this goes through, big firms like Blackstone and KKR could offer crypto in retirement accounts, unlocking access to a $12.5 trillion market.
Also Read : Trump Linked Bitcoin Miner American Bitcoin Corp. to List on Nasdaq ,
Crypto Coming to Your Retirement Plan?
Most retirement plans in the U.S. right now only let people invest in things like stocks and bonds. But Trump recently spoke about the idea of allowing people to use some of their retirement money to invest in crypto, like Bitcoin.
In the past, the U.S. Labor Department had warned against this. They said there wasn’t enough data or clear rules to safely allow crypto in 401(k) plans.
But things are changing. Crypto is becoming more popular, and now even political leaders are starting to talk about it seriously. If Trump’s idea moves forward, it could lead to clear rules and give people a new way to include crypto in their retirement plans.
Bitcoin Price Reacts Fast
Following news of the executive order, Bitcoin’s price surged from $114,300 to $116,695 in just one hour. Although still below the key $120,000 mark seen last month, the news clearly reignited excitement in the market to break it again.
Meanwhile, BTC Trading volume has jumped to $60.3 billion, and open interest in crypto derivatives has also climbed quickly.
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