Employees will only gain access to the option if their employer signs off the option, which fidelity says will start rolling out in mid-2022.

Fidelity does n’t specify how much employees can dedicate to cryptocurrency in its release. Employees can elect to save up to 20 percent of their retirement fund in Bitcoin.

Bitcoin will be the first to offer employers exposure to Bitcoin for the financial industry’s core lineup of 401 (k) s.

Microstrategy is the first to announce that it has adopted the Bitcoin retirement fund option. The company acquired $ 250 million in Bitcoin in 2020 and continued to buy into the cryptocurrency as part of its financial strategy.

In 2000, the SEC settled with Microstrategy and other executives $ 11 million over charges of civil accounting fraud. The executives paid the disgorgement of $ 10 million and a $ 350,000 civil penalty for each of them, without’admitting or denying the commission’s allegations’.