Key highlights:
- Inflation is a serious issue affecting long-term investment and retirement plans, which is why an increasing number of people are considering Bitcoin
- When companies like Daim involve Bitcoin in their retirement plan, it’s a serious matter, and it may show that mass adoption is on the horizon
- Daim is not alone in this space, and other companies like Bitira, Coinira, and others also offer similar products
Daim (Digital Asset Investment Management) has introduced a company-sponsored retirement plan that allocates up to 10% of its holdings to Bitcoin. The program is compliant with ERISA, and Gemini Trust will hold the BTC assets for Daim. The Bitcoin assets will be held in cold storage, which is the safest way to store Bitcoin
A few years ago, an IRA account was the only form for investors who wanted crypto for their retirement plans. For example, a company like Bitcoinira has its retirement funds, and it helps people invest in cryptocurrencies like Bitcoin and Litecoin. In recent years, demands for crypto investment have significantly increased, and some companies are using the opportunity with their innovative plans.
Daim is a company operating from California, and its name is short for Digital Asset Investment Management. On November 19, the company announced its Bitcoin 401(k) plan. The plan comes from a massive demand regarding investment in Bitcoin and other cryptocurrencies. The existence of Bitcoin in this plan helps investors protect themselves against inflation.
Daim believes that Bitcoin has proved itself in recent years and it should be added to modern portfolios. Bitcoin is the best investment asset of the previous decade, and institutions are considering it more seriously. The plan includes traditional assets alongside Bitcoin, and Daim is ready to assist the other companies in launching these kinds of programs.
When employees leave the company, they can transfer their BTC. If a person wants to invest more in Bitcoin, he/she can arrange a consultation with the company. Daim is considering this plan for 12 months, and now people can access Bitcoin via this exciting plan.
Other companies offer similar services, including Bitira, Coinira, and Regal assets. The Crypto ecosystem is growing, and more people are thinking about including crypto in their portfolios.
Cryptocurrencies experienced huge gains recently, and a BTC-based 401(k) is indeed very interesting for people who see the potential of the crypto market. 401(k) plans also assist employees regarding tax.
Andrew is a writer that does most of his work on cryptocurrency-related topics. While he’s primarily interested in Bitcoin, he also follows major altcoins and the innovative ideas that new cryptocurrency and blockchain projects are bringing to the table.