Bitcoin gets a 401k boost and retakes 38k

The rebound in Bitcoin yesterday and furthermore today is gathering more pace. The lead cryptocurrency has just reclaimed levels above 38k following the news released not long ago that some US firms are to allow investments into cryptocurrencies within plans 401k retirement plans. The level of exposure is said to be set at a maximum of 5% on any one portfolio. This news is being reported in the Wall Street Journal and is said to come into place from July in a joint venture involving Coinbase. That is indeed a bold step and one that has clearly had an impact on Bitcoin. As to whether the take up will match the immediate price reaction remains to be seen. For sure some will embrace this move by making an investment. However, it is one thing speculating on Bitcoin, but it is another when assessing a stable and reliable pension investment decision. Irrespective of that opinion, the news has been well greeted. Bitcoin has lifted to as high as 38,407 a short while ago. It is now trading at 38,235