Treasury Secretary Janet Yellen on Thursday warned against including Bitcoin and other cryptocurrencies in retirement plans, calling them a “very risky investment”.
Yellen’s comments came at a កាសែត New York Times event in Washington, in response to a question about Fidelity’s April announcement that it will let workers save up to 20% of their retirement funds in Bitcoin.
“It’s not something that I would recommend to most people who are saving for their retirement,” she said. “To me, it’s a very risky investment.”
The U.S. Labor Department has previously signaled its opposition to Fidelity allowing Bitcoin in retirement accounts, saying it had “grave concerns” over the decision. But House Republicans last monthsought to protect the option with a bill that would prevent a federal ban on crypto retirement savings.