Sunday, Jun 26, 2022
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Fidelity Introduces Bitcoin As A Retirement Investment Option; Bitcoin, Ethereum Up

Fidelity has introduced the option to invest up to 20% in Bitcoin for the US 401 (k) retirement investment plan. Meanwhile, Cuba will start issuing virtual asset provider licences

Fidelity Introduces Bitcoin As A Retirement Investment Option; Bitcoin, Ethereum Up
Fidelity Investments

American company Fidelity Investments has announced that it would provide an option to include Bitcoin (BTC) in its 401 (k) US retirement investment plan. 

In other news, the Central Bank of Cuba (BCC) has decided to issue operational licences to the virtual asset service providers in the country, as per an official gazette notification.
 

Cryptocurrency Prices

The global crypto market cap increased by 1.83 per cent to $1.81 trillion at 8.50 am. However, the global crypto volume was down by 12.69 per cent to $83.47 billion, as per Coinmarketcap data. 

"Major cryptos witnessed a slight upside, however the bullish momentum might not be upheld. The crypto market is struggling at the moment, and with lower trading volumes on Indian exchanges after the introduction of defined taxation on cryptocurrencies, investors have a low appetite for risk," says Gaurav Dahake, CEO and founder, Bitbns.

Bitcoin (BTC), the world’s oldest cryptocurrency, was trading at $39,460.86, higher by 2.75 per cent in the last 24 hours. Ethereum (ETH) was also trading upward by 1.98 per cent at $2,897.37.
 
Among other major coins, Cardano (ADA) was up by 1.09 per cent at $0.8452, Algorand (ALGO) was trading with a gain of 1.06 per cent at $0.6682, Binance Coin (BNB) was up by 0.59 per cent at $391.36, Solana (SOL) was also trading with a gain of 2.67 per cent at $99.56, and Polkadot (DOT) was also up by 0.69 per cent at $17.04.
 
Today’s top gainer was JUMPN (JST), which was up by 507.31 per cent at $0.0009878. The top loser was Energy Ledger
(ELX), which was down by 98.79 per cent at $0.00004888.
 
Meme Coin And DeFi Prices

Dogecoin (DOGE) was up by 0.03 per cent at $0.1404. Its volume to market cap ratio stands at 0.09038. Rival Shiba Inu (SHIB) was up by 0.04 per cent at $0.00002327.

Dogelon Mars (ELON) gained 0.48 per cent to trade at $0.000001034, but Floki Inu (FLOKI) lost 0.25 per cent at $0.00002083 and Samoyed Coin (SAMO) was down by 0.65 cent at $0.01583. 
 
In the DeFi segment, YFI (yearn.finance) was up by 1.29 per cent at $17,855.79, Terra (LUNA) was trading with a gain of 1.93 per cent at $90.13, Avalanche (AVAX) was up by 0.55 per cent at $69.87, Uniswap (UNI) gained 1.22 per cent to trade at $8.25 and Aave (AAVE) climbed 5.74 per cent to trade at $173.42.
 


 
Latest Updates

Fidelity has said in a press release that a new Digital Assets Account will be created specifically in the 401 (k) vehicle. 401 (k) is a US retirement investment plan offered by US-based companies that carries a host of tax benefits. The release said employers will be able to set their own limits on how much an employee can contribute to Bitcoin, but the maximum limit will be up to 20 per cent.
 
The virtual asset service provider licence issued by the Central Bank of Cuba will be initially valid up to a year and may be eligible for renewal in the second year, said the bank in the gazette.

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