Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • VPN Friendly Casinos
    • New Crypto Casinos
    • Offshore Online Casinos
    • Best Crypto Casinos Reddit
    • Bitcoin Poker
    • Bitcoin Betting Sites
    • Bitcoin Bingo
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • VPN Friendly Casinos
    • New Crypto Casinos
    • Offshore Online Casinos
    • Best Crypto Casinos Reddit
    • Bitcoin Poker
    • Bitcoin Betting Sites
    • Bitcoin Bingo
No Result
View All Result
CoinTrust
No Result
View All Result

Home » Company Aided Bitcoin Retirement Scheme Introduced in US

Company Aided Bitcoin Retirement Scheme Introduced in US

Kelly Cromley by Kelly Cromley
Nov 20, 2020
in Bitcoin News, Market News, News
Reading Time: 2 mins read
0

The US based asset management firm Digital Asset Investment Management (DAiM) is rolling out the country’s foremost employer-sponsored 401(k) retirement schemes that utilize Bitcoin. As per a media news release, DAiM will function as advisor and custodian in assisting enterprises “create a 401(k) plan that offers several recommended model portfolios of varying risk to traditional assets and allocation of up to 10% to Bitcoin.”

Bitcoin will be stored in cold wallet owned and administered by Gemini Trust, paving way for DAiM to move Bitcoin to ex-employees who have moved out of partaking firms. DAiM’s crypto friendly measures are in accordance with the Employee Retirement Income Security Act of 1974, and employers will be able to offer it by next year.

RelatedPosts

MovieDOM Reimagines Entertainment with a Decentralized Vision

CDARI and Laika AI Unite to Strengthen Web3 E-Commerce

Funtasy Joins Aptos: A New Era for Blockchain Game Launches

Palmistry Meets Web3: SFT Blockchain Taps AI for Digital Self-Discovery

Since 2018, the US citizens are allowed to hold cryptocurrencies in their personal retirement accounts, brokerage accounts and 401(k) rollovers, following the tax imposition by Internal Revenue Service on Bitcoin. However, as DAiM COO Adam Pokornicky points out, “It’s been impossible to offer Bitcoin inside actually company-based plans until now.”

“The difference is, you can take an old 401k plan and convert it to an IRA when you leave a job or employer to invest in Bitcoin, but it’s never been possible to invest in Bitcoin while working at a company without taking a penalty or quitting your job until now.“

Pokornicky stated that the conventional wealth administration sectors have been “slow to warm up to Bitcoin,” pointing there are “barely any investment advisors offering licensed and regulated access to Bitcoin directly in brokerage and retirement accounts.”

He ascribes the industry’s hesitation to “serious regulatory red tape” around crypto abidence, stressing that it took “almost a full year of slow-building” before DAiM was endorsed for providing its employer-sponsored facilities:

“As an advisor, you can’t just start managing and advising for Bitcoin because you want to. There’s an enormous amount of work and compliance that needs to be done to develop operational frameworks, infrastructure, and strategic partnerships that need to be married together to be compliant in every state you operate.”

Pokornicky also highlighted the sharp rise in demand for Bitcoin from retirement funds, and said “We’ve seen most demand from individuals between the ages of 28-45.”

Previous Post

Winning Poker Network Buys $160mln Worth Bitcoin Every Month to Complete Payouts

Next Post

Global Search Volume for Bitcoin Breaches 2017 Level

Related Posts

moviedom reimagines entertainment with a decentralized vision

MovieDOM Reimagines Entertainment with a Decentralized Vision

by Kelly Cromley
May 18, 2025
0

The entertainment landscape is witnessing a major transformation with the launch of MovieDOM, a blockchain-powered platform that promises to revolutionize...

cdari and laika ai unite to strengthen web3 e-commerce

CDARI and Laika AI Unite to Strengthen Web3 E-Commerce

by Kelly Cromley
May 18, 2025
0

CDARI, a Web3 e-commerce platform operating on the AI-powered Layer 2 network Matchain, has officially announced a strategic collaboration with...

funtasy joins aptos: a new era for blockchain game launches

Funtasy Joins Aptos: A New Era for Blockchain Game Launches

by Kelly Cromley
May 18, 2025
0

The Aptos Blockchain ecosystem recently expanded with the integration of Funtasy, a fantasy gaming platform focused on streamlining blockchain game...

palmistry meets web3: sft blockchain taps ai for digital self-discovery

Palmistry Meets Web3: SFT Blockchain Taps AI for Digital Self-Discovery

by Kelly Cromley
May 18, 2025
0

In a recent announcement shared on social media platform X, the SFT Blockchain revealed a strategic alliance with PalmCode, a...

solv protocol launches yield-bearing btc token on avalanche

Solv Protocol Launches Yield-Bearing BTC Token on Avalanche

by Kelly Cromley
May 17, 2025
0

Solv Protocol has taken a major step in expanding the utility of Bitcoin by introducing a yield-generating token—SolvBTC.AVAX—on the Avalanche...

david goyer unveils web3 sci-fi universe ‘emergence’

David Goyer Unveils Web3 Sci-Fi Universe ‘Emergence’

by Kelly Cromley
May 17, 2025
0

Renowned filmmaker David Goyer, best known for his screenwriting work on the Blade trilogy, The Dark Knight, and Apple’s Foundation...

Next Post
Global Search Volume for Bitcoin Breaches 2017 Level

Global Search Volume for Bitcoin Breaches 2017 Level

  • blackrock invests in colle web3

    COLLE: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025
  • XRP Ledger Embraces Precious Metal-Backed Stablecoins with Meld Gold Partnership

    by Kelly Cromley
    Oct 2, 2024

Recent News

moviedom reimagines entertainment with a decentralized vision
Market News

MovieDOM Reimagines Entertainment with a Decentralized Vision

by Kelly Cromley
May 18, 2025
cdari and laika ai unite to strengthen web3 e-commerce
Market News

CDARI and Laika AI Unite to Strengthen Web3 E-Commerce

by Kelly Cromley
May 18, 2025
funtasy joins aptos: a new era for blockchain game launches
Market News

Funtasy Joins Aptos: A New Era for Blockchain Game Launches

by Kelly Cromley
May 18, 2025
palmistry meets web3: sft blockchain taps ai for digital self-discovery
Market News

Palmistry Meets Web3: SFT Blockchain Taps AI for Digital Self-Discovery

by Kelly Cromley
May 18, 2025
solv protocol launches yield-bearing btc token on avalanche
Market News

Solv Protocol Launches Yield-Bearing BTC Token on Avalanche

by Kelly Cromley
May 17, 2025

Categories

  • Altcoin News
  • Analysis News
  • Bitcoin News
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market News
  • News
  • Ripple News
  • Solana News

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • VPN Friendly Casinos
    • New Crypto Casinos
    • Offshore Online Casinos
    • Best Crypto Casinos Reddit
    • Bitcoin Poker
    • Bitcoin Betting Sites
    • Bitcoin Bingo

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree