For the first time for a major corporation, one of the world's largest asset managers, Fidelity Investments, will allow investors to add bitcoin to retirement plans.

Reports released earlier today revealed that Fidelity has stated that some of the 401(k) accounts it manages plan to soon provide investors with the means to invest in Bitcoin through dedicated Digital Asset Accounts.

According to press reports, Fidelity Investments has assets under management of $4.2 trillion.

Speaking about this, Dave Gray, the company’s president of retirement offerings and platforms, said:

Fidelity believes that blockchain technology and digital assets will be a much larger part of the future of the financial industry.

Fidelity also revealed that MicroStrategy will be its first customer for the new products, which comes as no surprise, given that the software giant holds approximately 130,000 bitcoins on the company's balance sheet.

It will begin offering bitcoin in 401(k) accounts later this year.

The investment firm also revealed that it aims to expand the accounts and reach more sponsors by the middle of this year while noting that employees can put up to 20% of their balance into these accounts.