{"id":274837,"date":"2021-06-15T07:12:04","date_gmt":"2021-06-15T04:12:04","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/pension-provider-partners-with-coinbase-to-offer-5-exposure-to-crypto\/"},"modified":"2021-06-15T07:12:04","modified_gmt":"2021-06-15T04:12:04","slug":"pension-provider-partners-with-coinbase-to-offer-5-exposure-to-crypto","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/pension-provider-partners-with-coinbase-to-offer-5-exposure-to-crypto\/","title":{"rendered":"# Pension provider partners with Coinbase to offer 5% exposure to crypto"},"content":{"rendered":"

“# Pension provider partners with Coinbase to offer 5% exposure to crypto <\/strong>”
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United States-based retirement plan provider, ForUsAll, is joining forces with Coinbase to allow clients to invest up to 5% of their portfolio assets in cryptocurrencies.<\/p>\n

The pension provider, which primarily serves small-to-medium-sized businesses, is working to offer exposure to more than 50 cryptocurrencies in a product called Alt 401(k).<\/p>\n

The firm\u2019s co-founder and chief investment officer, David Ramirez, acknowledged<\/a> concerns regarding offering crypto products in pension portfolios due to their volatility, but argued that U.S. citizens will be at a \u201cdisadvantage\u201d if they are not given the option of accessing crypto assets in their retirement plans:<\/p>\n

\u201cThe average American may be at a structural disadvantage relative to large institutions and high net worth individuals, and we just don\u2019t think that\u2019s right.\u201d<\/p><\/blockquote>\n

ForUsAll handles $1.7 billion in retirement plan assets, which accounts for a small portion of the $22 trillion retirement-account markets.<\/p>\n

In the United States, a 401 plan is an employer-sponsored defined-contribution pension account defined in subsection 401 of the Internal Revenue Code.<\/p>\n

Larger institutional investment firms such as Fidelity Investments and Charles Schwab do not allow customers to directly buy or sell cryptocurrency in taxable accounts or individual retirement accounts. However, they can purchase shares in trusts that do invest in crypto assets from companies such as Grayscale Investments.<\/p>\n

Related:<\/strong> <\/strong>Fidelity\u2019s Tom Jessop says crypto has hit a \u2018tipping point\u2019<\/strong><\/p>\n

One firm that does allow the direct purchase of crypto assets and gold for retirement plans is BitcoinIRA, which was founded in 2016. Commenting on ForUsAll\u2019s collaboration with Coinbase, co-founder and chief operating officer at BitcoinIRA, Chris Kline, stated:<\/p>\n

\u201cForUsAll and Coinbase wouldn\u2019t be doing this if there wasn\u2019t a market. There are people that want this with these types of funds. And they want to have access to new and exciting things with their 401(k)s.\u201d<\/p><\/blockquote>\n

MicroStrategy CEO Michael Saylor responded to ForUsAll\u2019s move to embrace crypto.<\/p>\n

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If you invest 5% of your portfolio in #bitcoin<\/a>, you have made the decision to invest 95% of your portfolio in assets getting demonetized by bitcoin.<\/p>\n

\u2014 Michael Saylor (@michael_saylor) June 14, 2021<\/a><\/p><\/blockquote>\n