France authorizes investment in Bitcoin for retirees
The French government takes a step in the adoption of cryptocurrencies and now allows investment in Bitcoin for retirement through alliance with VanEck Europe
France authorized investing in Bitcoin for retirees, through an alliance with VanEck Europe, with the creation of an exchange-traded fund.
People who retire, ceasing their work activity, will then be able to invest in Bitcoin as a savings mechanism.
The alliance with VanEck Europe “marks a milestone in the French financial landscape, combining financial innovation with security to offer savers a modern tool to diversify their long-term investments.”
It must be clarified that bitcoin will be a complement to the retirement savings strategy and “not as a substitute for traditional assets. In this case, it is a controlled exposure, allowing savers to diversify their portfolio while minimizing the risks associated with directly holding cryptocurrencies.”
This is a great advance by the country towards the “modernization of the financial sector and responds to the expectations of a new generation of investors who seek diversified and modern savings options.”
The French government is betting that the initiative will help strengthen the trust and credibility of the most conservative investors towards digital assets, since it would increase the demand and price of bitcoin.
Investing in bitcoin could help retirees increase their wealth with the confidence that cryptocurrencies provide, so that when they retire, they have sufficient means for maintenance and expenses.
M.Pino
Source: cointelegraph
(Reference image source: Unsplash+, in collaboration with Getty Images)
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