A criticism of Fidelity’s retirement savings and Bitcoin move came from US Senator Elizabeth Warren. Warren criticized the plan, once again arguing that cryptoassets are speculative.
US Senator Elizabeth Warren continues her anti-crypto statements. Warren is now also targeting Fidelity’s move that recently allowed clients to invest in Bitcoin with their retirement savings. Warren, along with US Senator Tina Smith, wrote in a letter to Abigail Johnson, CEO of Fidelity Investments, that she is concerned that millions of Americans are investing in this risky asset with their retirement savings, arguing that cryptoassets are speculative. She also asked the company how it would deal with other risks such as fraud, theft, and loss.
A similar criticism came from the US Department of Labor recently. Noting the volatility, the ministry suggested that crypto assets should mature for such a move.
