Why Bitcoin might soon make your 401k obsolete

Why Bitcoin might soon make your 401k obsolete

One practice that is used by investors around the world is diversification. Diversification simply means not putting all of our eggs into one basket. Smart money managers spread the total amount of investment capital across as wide a range of investment styles and asset classes as possible. Diversifying your investment portfolio is especially important for investments that are being used for your retirement. Over the last few years a large number of people were fortunate enough to buy in when Bitcoin was priced at $35 and sell when it reached $1000. This profit can of course be used for....


Related News

Cryptocurrencies Prove Central Bank Models Are Obsolete, Says Professor

A Spanish professor and economist stated that cryptocurrencies have brought out the “obsolescence” of central banks, although their capitalization is still “very insignificant.” Crypto Is Not Only About the ‘Speculative Noise’ Pablo Agnese, an economics professor and lecturer in the Department of Economic and Business Organization at the Universitat Internacional de Catalunya in Barcelona (UIC Barcelona), told Europa Press in an interview that young people could lead cryptocurrencies to even stronger mainstream adoption. The academic believes that young....

With Demand For Tax Havens Growing, Bitcoin Makes Them Obsolete

Tax havens are renowned for allowing the rich and famous to shuffle their funds where governments can’t see or access them. Bitcoin, with its strong store of value, borderless nature, and unprecedented privacy, has the ability to obsolete tax havens. Some investors, especially those in countries with high rates of taxation, seek to find ways of providing their savings with privacy and anonymity. This can be for various reasons, from tax evasion, a fear of loss of funds or to a simple desire for privacy. According to cryptocurrency investor Marc De Mesel, cash serves part of this purpose,....

India’s Central Bank Tells Banks: Go Digital or Become Obsolete in the FinTech Age

The deputy governor of the Reserve Bank of India has said that banks need to go digital in the face of FinTech or they could risk becoming obsolete as the industry continues to grow. According to a report from Bloomberg Quint, SS Mundra said, to an audience at the College of Agricultural Banking, that banks shouldn’t see financial technology companies as a threat, but that the two should work together to help under-served and credit-starved micro and small enterprises (MSMEs). He said: An estimate suggests that at present almost 93 percent of such (micro) units are outside the formal....

Banking Havens Are Obsolete

Further to CoinTelegraph's investigation into Bitcoin's potentially lethal impact on the banks, The Financial Times reported Tuesday that Switzerland has agreed to share the identities of foreign owners of Swiss bank accounts with their home countries. This move reverses centuries of Swiss commitment to banking privacy. Switzerland, long one of the world’s financial capitals, traditionally protected all bank account holders’ privacy and anonymity. We’ve all grown up with a particular idea of what it means to have a Swiss bank account. That idea, and those ideals, are obsolete. Forty-seven....

Valid Points: Forget Staking, There Are Still Coins to Be Mined on PoW Ethereum

Ethereum miners are making investments to maximize profits before mining becomes obsolete and gets replaced by validating on Ethereum 2.0.