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Since Donald Trump's election win, nearly $10 billion has flowed into US exchange-traded funds that invest directly in Bitcoin. This surge, driven by optimism regarding Trump's support for the crypto sector, has increased total assets in these funds to approximately $113 billion, according to data from Bloomberg.
The number of 401(k) and IRA millionaires has reached record highs, with 497,000 401(k) accounts and 418,111 IRAs surpassing $1 million as of September 30. Average balances rose significantly, driven by market gains and steady contributions, although borrowing from 401(k) plans increased as financial pressures mount.
Bitcoin reached a significant milestone this week, crossing $100,000 for the first time, with a current price around $99,000. A $1,000 investment made 10 years ago would now be worth approximately $268,384, reflecting a staggering 26,738% increase. The rise in value is attributed to increased institutional interest, particularly with the launch of bitcoin exchange-traded funds (ETFs), which have broadened access for investors.
The number of millionaire 401(k) accounts at Fidelity Investments reached a record 544,000 in the third quarter, marking a 9.5% increase. Average balances for 401(k) and 403(b) accounts also hit new highs, standing at $132,300 and $119,300, respectively, reflecting a 4% rise from the previous quarter and a 23% increase year-over-year.
Fidelity Investments' Blue Chip Growth Fund reported a 32% increase in the value of its equity stake in Elon Musk's X Holdings Corp. in October, raising its valuation from $4.19 million in September to $5.53 million. The fund initially invested approximately $19.7 million in late 2022.
A dozen US Bitcoin exchange-traded funds are nearing a record monthly net inflow, driven by optimism surrounding President-elect Donald Trump's support for cryptocurrency. In November, these ETFs, including those from BlackRock Inc. and Fidelity Investments, have attracted $6.2 billion, surpassing the previous peak of $6 billion in February.
In 2023, the average salary in the US was approximately $67,000, while the mean 401(k) balance stood at $127,100. Despite these figures, fewer than 40% of Americans consider themselves financially successful, with many citing economic challenges and inconsistent income as major obstacles to achieving their financial goals.
At the Linux Foundation Member Summit, a report revealed that nearly half of organizations adopting generative AI prefer open-source solutions, citing cost efficiency and transparency as key factors. With 94% of organizations using Gen AI, 71% believe open source positively influences decision-making, and 73% plan to increase its use in the next two years. Experts emphasize that open-source software is essential for the future of AI, fostering trust and innovation while navigating complex licensing issues.
US exchange-traded funds (ETFs) investing directly in Bitcoin have surpassed $100 billion in total assets, fueled by a record-breaking rally of the cryptocurrency. This milestone was achieved by a group of 12 Bitcoin ETFs from major issuers like BlackRock Inc. and Fidelity Investments, marking one of the most successful fund category launches in recent history.
A staggering 89% of Americans do not consider themselves wealthy, despite many having significant assets. The definition of wealth varies, with most associating it with financial security, homeownership, and the ability to travel, while rising consumer debt and housing costs hinder perceptions of wealth. Many believe a net worth of $1 million or more is necessary to feel wealthy, highlighting a disconnect between actual wealth and self-perception.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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