Teacher Bruce wrote in detail about 401K, with two key points. One is the definition of cryptocurrency. Pensions are subject to dual regulation by tax laws and the Department of Labor, meaning that not just any investment is allowed; generally, only compliant and moderately risky assets can be invested in. The opening of pension investments indicates that $BTC and $ETH spot ETFs are considered compliant and moderately risky. This is a crucial definition.

Secondly, not only is a large amount of capital entering, but there is also likely to be a structural change in investors, which I believe is even more important. The investment nature of pensions tends to be long-term or low-turnover dollar-cost averaging, which is completely different from the high-frequency and short-term trading in the crypto market.

Therefore, it is very likely that in the future, Bitcoin and Ethereum will say goodbye to the possibility of significant short-term surges, but in return, this will reduce market volatility and increase bottom support, making them more like gold, a type of risk-averse asset, rather than purely high-risk assets.

This article is sponsored by #Bitget ｜ @Bitget_zh

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