Ryan Rasmussen, head of research at Bitwise Invest, has estimated that Bitcoin could see $80 billion in additional demand if merely 1% of 401k funds end up flowing into the largest cryptocurrency.
As reported by U.Today, the U.S. Labor Department recently ditched the anti-crypto guidance that was a major obstacle to fiduciaries offering crypto in retirement funds.
Without this additional scrutiny, it is now way easier for cryptocurrencies to become part of 401(k)s.
The retirement plant market has surpassed $8 trillion in the U.S. Mutual funds manage the majority of 401(k) assets.
The impact of the recent reversal could be bigger than Bitcoin exchange-traded funds (ETFs), according to Rasmussen.
The $80 billion figure mentioned by the analyst is twice bigger than the total Bitcoin ETF flows.
U.Today Editorial Team
Vladislav Sopov