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?
This will be undoubtedly a good initiative for cryptocurrency. Money will start coming into the crypto market from those accounts which will increase the flow of money into the market and the market will be in a strong position. Usually, idle money is left in these accounts. If that money is invested in crypto, then the market will be stable and the risk of sudden decline will be reduced because long-term investments are kept here. Earlier, there were few reliable investments in the market, and if the flow of money decreased for any reason, Bitcoin would have fallen drastically but if 401k accounts coming into the market, there will be high confidence in the market. The rapid decline in the market will be greatly reduced.