U.S Senate Member Supports Inclusion Of Crypto Assets In Retirement Portfolio

U.S Senate Member Supports Inclusion Of Crypto Assets In Retirement Portfolio

Cynthia Lummis, a United States member of the senate and die hard Bitcoin advocate said it would be nice if citizens embrace Bitcoin as part of their retirement package. During the June 29 CNBC meeting, the senator suggested that crypto investments should be encouraged. The pension fund which is normally distributed strategically by putting it into different holdings in other to curb inflation crisis should also be used to invest in crypto assets, she opined.

Lummis said that it was healthy to have diversification as it concerns investment holdings. In other to ameliorate the inflation effects of government expenditure and money minting, the senator said that there was a great need to become more strategic, hence the need for asset diversification.

Citizens of U.S can have crypto assets as part of their financial investment collection of retirement. This is in line with the guideline provisions of the Internal Revenue Service as regards running the sector in 2014. However, having crypto assets as one of the retirement investments has remained highly dependent on the individuals involved.

Notwithstanding the emergence of pension plans that actively promote crypto, a move which started last year, some experts are still cynical about the development. A top executive of Alliant Retirement Consulting in a June 22 interview with CNBC stated that companies or employers that finance pension plans of employees are not inclined to adopt cryptocurrencies as part of their pension fund.

During her session with CNBC, Lummis said that she had 5 Bitcoin and she obtained her first Bitcoin in 2013 for about $330. Notwithstanding her solidarity for Bitcoin, the senator maintained that diversifying investment is more commendable. She does not encourage anyone to have all eggs in one basket.


The article posted herein is published by members of this site. Any information you find on this article is base on the opinion and view of the publisher. You are at liberty to accept or reject this article and act base on your own perspective of the platform. You are encouraged to share your own opinion or views about the platform with us via the comments box below so as to further improve this article.

Team Reviewparking is no third party and we can't handle any queries whatsoever.

Get involved!


1 month ago