The recent negative developments in the cryptocurrency ecosystem have not changed the Republican Senator Cynthia Lummis’ stance on Bitcoin (BTC). In a recent interview on news website Semafor, Lummis said, “I'm very comfortable with making sure that people can include Bitcoin in their retirement funds because it's just different than other cryptocurrencies.” Lummis also thinks that the supply of Bitcoin consisting of only 21 million will raise its price.
Some US politicians do not support investing retirement funds in Bitcoin. Senator Warren has criticized the Fidelity investors’ decision to make it possible for investors to invest Bitcoin in their 401(k) plans.
What Is a 401(k) Plan?
It is an employer-sponsored, defined-contribution, pension account defined in subsection 401(k) of the US Internal Revenue Code.
