The American company Digital Asset Investment Management (DAiM), which specializes in investment consulting services in the cryptocurrency industry, has announced the launch of the first of its kind employer-supported pension plans with bitcoin support.
DAiM will act as a consultant and Trustee for companies that want to offer employees a retirement plan with the ability to invest up to 10% of their funds in bitcoin along with traditional assets. The plan is implemented using the 401(k) model, which is most popular in the US private pension system.
The task of storing the cryptocurrency assets of DAiM clients will be taken over by the regulated trust division of the Gemini exchange.
"Since getting permission in the state of California in June 2018, we have seen a huge demand from individuals who want to invest in bitcoin through 401(k)," the company said, adding that owners of traditional retirement plans are losing money due to inflation.
Customers will be able to place a larger share of funds in bitcoin after consulting with DAiM. If desired, employers can transfer employees from existing plans to a plan with access to bitcoin. If they want their employees to be transferred to the new plan in 2021, the application must be submitted by mid-December.
"We believe that bitcoin has proven its relevance in the modern portfolio. Individuals should be able to "break away from zero" and invest directly through pension accounts, " the company added.