In the United States, licensed digital-asset manager Digital Asset Investment Management (DAiM) presented a retirement plan with a stake in the first cryptocurrency.
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The initiative concerns the 401(k) model — the most popular private retirement plan in the country. Under the U.S. Internal Revenue Code, employees may transfer part of their salary into pre-tax savings accounts. Employers may raise their contributions to the plan.
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DAiM will offer several portfolios with varying risk profiles for traditional assets and a bitcoin stake of up to 10%. Clients will be able to participate in the offer starting in 2021.
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The firm will act as advisor and asset manager. The coins will be held in cold storage by Gemini Trust, a trust company owned by the Winklevoss brothers.
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Earlier in May, payroll service Bitwage and the cryptocurrency exchange Gemini gave U.S. citizens the ability to form retirement savings within a 401(k) with a bitcoin stake.
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