Since Fidelity experimented with allowing bitcoin in 401(k)s over three years ago, and the idea first made noise in the personal finance world, bitcoin has returned 215 percent—compared to about 54 percent for the S&P 500. Even the Magnificent Seven stocks, which constitute the bulk of positive returns in the S&P 500, are only up about 150 percent since then.

It is reasonable to be skeptical of Trump and cryptocurrency, especially in light of his self-enriching schemes. The $Trump and $Melania memecoins, conveniently launched days before his inauguration, and the Trump family's involvement in World Liberty Financial both raise valid concerns about conflicts of interest while allowing him (and his family) to profit from his presidential influence with minimal regulatory oversight. But the executive order is still a clever proposal. Many Americans face uncertain retirement prospects, as public programs are unlikely to be there for them in old age. Their meager savings, inside and outside retirement accounts, are often too small to support their accustomed lifestyles. Holding assets with higher returns is one way out of this conundrum.

oh, you don't like bitcoin and don't want any?

Tesla, which has held bitcoin since 2021, has been part of the S&P 500 index for years. Coinbase, the cryptocurrency exchange, recently committed to building a larger bitcoin stack and joined the S&P 500 in May. Block, the payment processing company behind Square and Cash App, is the 12th-largest corporate holder of bitcoin and joined the S&P 500 last month. The bitcoin behemoth Strategy, led by Michael Saylor, is by far the largest corporate holder of bitcoin and will quite likely join the S&P 500 in the near future. Since the firm's explicit business model these days is to hoover up funds from the traditional financial market to buy more bitcoin, any passive flow from retirement funds will end up in bitcoin, via the wrapper of the company's shares.