Bitwise CIO Argues for Bitcoin in 401(k)s, as Senator Warren Questions SEC
Bitwise's CIO called bans on Bitcoin in 401(k)s ridiculous while Senator Warren pressed the SEC on crypto risk mitigation.Summary
Bitwise Chief Investment Officer Matt Hougan criticized management companies and regulators for advising against including Bitcoin in 401(k) plans, calling such opposition "ridiculous." He argued that Bitcoin is just another asset, noting that over the past year, it was less volatile than Nvidia stock, which is commonly offered. Meanwhile, US Senator Elizabeth Warren sent an open letter to the SEC demanding answers on how the regulator plans to mitigate risks associated with allowing crypto in retirement funds, citing concerns over volatility and high fees. Warren specifically asked SEC Chair Paul Atkins about volatility valuation, assessment of manipulative practices, and plans for investor education materials by January 27th. Despite the current resistance, Hougan believes that crypto in 401(k)s will eventually become normalized, following a shift in stance by the Department of Labor.
(Source：Cointelegraph)