When we look at the world today, any bank account that has gotten to the stage of retirement is an account that has little to no idea on crypto currencies. It is announced that President Trump prepares to sign an executive order to allow retirement accounts to take part in investing into cryptocurrencies. These accounts are said to be about 401k accounts, going beyond the traditional investment of stocks like gold and its likes.
If this order is signed, what will be its effect on the market?
Bitcoin is really becoming a digital gold. Cryptocurrencies, and especially Bitcoin, is one of the best performing asset to invest for retirement. Signing this executive order will have a positive impact on Bitcoin because it will allow people to hold Bitcoin for their retirement but the most important measurement on how it will affect the market is the fact of how many people will invest in Bitcoin. It's one thing when you allow something and it's another thing when people actively start using it. To be honest, old people, who think about retirement, aren't too tech-savvy, so I do not expect huge number of Bitcoins to be acquired but long-term, when the middle-aged generation starts preparing for retirement, I'm sure that lots of them will heavily invest in Bitcoin and it will positively affect the market. The market is already too good for Bitcoin.