Anne Tergesen

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4,485 appearances 83 recordings 1 series first heard Jul 2017 last heard Feb 2025

Anne Tergesen’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Should You Add Bitcoin to Your 401(k) Retirement Plan? · 4 May 2022 podcast

And so, you know, I think the difference between one record keeper and another isn't so pronounced. matched

So I think this is a way for Fidelity to kind of stand out from the pack. matched

They also very early on, you know, for the last several years, they have been investing in sort of understanding the cryptocurrency markets better. matched

And they actually have an institutional cryptocurrency exchange platform. matched

And so, you know, they've been sort of a leader in that area. matched

And I think this enables them to try to stand out and stand out as a leader in an area that they think is poised for a lot of growth. matched

No, it doesn't mean that. matched

So there are about 23,000 companies that are customers of Fidelity in the 401k space. matched

What Fidelity is doing is giving those companies the option of adding Bitcoin to their 401k menus. matched

It doesn't mean those companies have to offer it. matched

And in fact, probably a lot of them will not choose to offer it. matched

So I think for most people whose companies use Fidelity as a 401k administrator, they're probably not going to see Bitcoin pop up on their 401k menu, but some will. matched

I think there might be some companies that would choose to offer this as a way to attract and retain workers. matched

You know, maybe people, maybe younger workers, maybe they feel that this is something that's going to be a competitive advantage for them. matched

But when you think about whether companies are going to adopt this or not, you also have to consider that companies have what's called a fiduciary responsibility to manage their 401k plans. matched

in the best interest of the participants. matched

And that sounds kind of simple, but it actually involves companies having to do some very careful vetting of the things that they offer as investment options. matched

And they have to kind of justify why they think that this belongs in the plan and why it's in the best interest of employees to potentially invest in it. matched

So I think that companies are going to have to be very careful in sizing up whether to offer this or not. matched

Well, if your company offers it on the menu, then you can simply do it by clicking on that option on the menu or calling the call center or however you normally would sign up for an option on your 401k. matched

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