BREAKING NEWS – Fidelity Investments Allows Bitcoin for IRAs

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UPDATE: Looks like they completely reversed their decision

Bitcoin continues to gain legitimacy as prominent financial services corporation Fidelity partners with SecondMarket’s Bitcoin Investment Trust to allow its clients to put Bitcoins in IRAs. The Bitcoin Investment Trust launched a few weeks ago in late September, and invests exclusively in Bitcoin. Individual Retirement Accounts (IRAs) provide tax advantages for retirement savings. Barry Silbert, CEO of SecondMarket, says,

“If you are a Fidelity client, you can now invest in the Bitcoin Investment Trust through an IRA.”

This is simply fantastic news for Bitcoin users who want to plan ahead for their retirement. Although SecondMarket had already partnered with PENSCO, Entrust, and Equity Institutional, Fidelity is one of the largest and most prominent financial services corporations. SecondMarket hopes partner with even more self-directed IRA providers in the future.