I genuinely believe this will create long-term upward pressure on Bitcoin and other cryptocurrencies.
Either this come to be or not, the market will always be volatile to remain high or low by any economic influence or base on it's demand and supply, lots of factors could also surge it to rise as we had the bitcoin spot ETF and that of the Israel-Iran wat taking it down.
That said, it's still unclear how asset managers will respond. Many have historically expressed skepticism—Warren Buffett being a notable example. It remains to be seen whether pension funds and retirement accounts will eventually join the movement.
If truly this has been implemented, then every pensioneer will see it as a best alternative to them from the way their entitlement are being paid to banks and they make nothing out of it over the years.