I had another conversation yesterday with a financial advisor about bitcoin and crypto in 401(k) plans, a subject on which I have written skeptically in the past. As I am wont to do, I again questioned whether the hunger to add crypto to defined contribution plans is in employees’ best interest, or whether instead someday, in hindsight, many will compare this aspect of crypto-lust to the now apparently forgotten era when employees, intoxicated from the spiraling increases in the price of their employers’ stock, overinvested in company stock in their retirement holdings and eventually lost their shirts. Regardless of what I may think, the train doesn’t seem to be slowing down in this regard, as this article from the Wall Street Journal yesterday seems to reflect.

Photo of Stephen Rosenberg Stephen Rosenberg

Stephen has chaired the ERISA and insurance coverage/bad faith litigation practices at two Boston firms, and has practiced extensively in commercial litigation for nearly 30 years. As head of the Wagner Law Group’s ERISA litigation practice, he represents plan sponsors, plan fiduciaries, financial…

Stephen has chaired the ERISA and insurance coverage/bad faith litigation practices at two Boston firms, and has practiced extensively in commercial litigation for nearly 30 years. As head of the Wagner Law Group’s ERISA litigation practice, he represents plan sponsors, plan fiduciaries, financial advisors, plan participants, company executives, third-party administrators, employers and others in a broad range of ERISA disputes, including breach of fiduciary duty, denial of benefit, Employee Stock Ownership Plan and deferred compensation matters.