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Companies like Fidelity are letting people gamble their 401ks in crypto. A16Z just set aside billions for the Web3. It's going to take a while to disappear.

• koolba 4y ago
  Crypto trading in a 401k would at least solve the maze of taxes and valuations. Assuming it doesn’t go to zero (yes, yes, big if…), what you get out when you cash out and withdraw would be ordinary income.
  • cycrutchfield 4y ago
    Not to mention widespread adoption would increase the likelihood of a government bailout when it inevitably crashes, which is the real motivating factor for those pushing for it
    • NotSammyHagar 4y ago
      That doesn't necessarily follow to me. When an average company goes bankrupt, people just lose their money. I believe federal intervention is when there is systemic risk (or major criminal actions). I've been learning from this thread but it doesn't seem to be systemic. It's not going to take down a bunch of real world banks, crypto market cap was less than $1T. If I own bank stock or whatever in my 401k, it's on me if it dies, crypto would be the same.
• splitrocket 4y ago
  You take the stairs up, but the elevator down.
  • bratwurst3000 4y ago
    Some maybe the roof …
• jjoonathan 4y ago
  What? Fidelity won't even let me buy stocks in my 401k, let alone options or crypto -- they only offer a couple of curated high-fee ETFs.
  • tablespoon 4y ago
    > What? Fidelity won't even let me buy stocks in my 401k, let alone options or crypto -- they only offer a couple of curated high-fee ETFs. I think it's something employers can optionally choose to offer in their plans
  • _blz2 4y ago
    You need a brokeragelink account in your 401k. Then transfer from index funds to that account and then you can trade stocks. After filling out an application you can enable derivative trading too in your 401k BrokerageLink account.
  • abirch 4y ago
    You can roll over your 401K into a Rollover IRA and even do options.