#CryptoIn401(k) Bloomberg's expert believes that Bitcoin will not be popular option for 401(k) pension funds.

Bloomberg’s ETF expert Eric Balchunas has commented on the widely discussed development as U.S. president Trump intends to sign an executive order that allows private equity, real estate and cryptocurrency to be held in private retirement accounts.

While this seems like a major new milestone for Bitcoin adoption, Balchunas does not believe this opportunity will be widely embraced.

Private 401(k) accounts can now add Bitcoin, Balchunas in doubt

Bloomberg reported this news, calling it a major win for the aforementioned industries, since private 401(k) accounts comprise roughly $12.5 trillion in total. Until now, these retirement plans were mostly focused on stocks and bonds, partly because “corporate plan administrators are reluctant to venture into illiquid and complex products.”

The Securities and Exchange Commission will also be asked to “bless” the transition to alternative assets for holders of retirement plans if they choose to.

However, Bloomberg analyst Eric Balchunas doubts that corporate administrators of those retirement accounts will be willing to add Bitcoin to 401(k) investments. The analyst stated that “all of those things should require a little education,” and apparently, most of those financial experts do not know much about BTC, how it works and will hardly trust it as an asset. According to Balchunas, they will prefer to stick with investing in traditional assets: "Altho I do think vast majority won’t care, will stick w simple low cost target date fund type portfolio."