MicroStrategy Announces Plan to Offer Employees Bitcoin on Their 401Ks

Bitcoin savant and MicroStrategy CEO Michael Saylor announced a plan to give his employees access to Bitcoin retirement plans, on Twitter today.

MicroStrategy employees will now have the ability to invest a portion of their 401k savings account into the number one cryptocurrency in the world, he said in an interview with CNBC and over on Twitter.

This news follows the recent move by Fidelity Investments to provide a Digital Assets Account, giving companies who work with the biggest 401k provider in the United States access to Bitcoin.

MicroStrategy will work in tandem with Fidelity to allow employees to add Bitcoin to their retirement accounts. A 401k account gives employees a tax break on money they provide from their salary towards a retirement plan.

“Bitcoin is digital property and that makes it the perfect asset for a retirement plan,” Saylor said on CNBC. He went on to say “It is less risky than bonds, stocks, commercial real estate, than gold—it was kind of built for this,” Saylor added. “I think Fidelity has put their finger on an issue.”

MicroStrategy is known for its Bitcoin acquisitions, holding nearly $5 billion worth on its balance sheet, according to past reports. The company provides cloud and mobile-based software services to companies.

2020 saw the rise of both Saylor and his company as big mouthpieces in the digital currency industry, at the time of the bull run he claims that Bitcoin was a better investment than bonds, and gold as the dollar lost a lot of its value.

Saylor still holds these beliefs and regularly touts its future strength as an investment vehicle over on Twitter. Some criticize the massive amount of Bitcoin MicroStrategy has acquired, citing it as an eventual problem when there are no more to mine leaving them with a massive pull in its economy.

While Saylor has done much good for the coin with his continual appearances on national television praising Bitcoin, some of his maximalist views on where the technology is going leaves some wary of his true intentions.