Bitcoin Enabled as an Investment Option for Retirement Accounts
If BitcoinIRA.com has its way, bitcoin will become ingrained as another retirement savings tool for generations to come. Edmund Moy, former Director of the U.S. Mint, serves as the group’s Chief Strategist…and possibly Chief Marketing Ploy. Many aspects of BitcoinIRA.com’s website lean heavily on Mr. Moy’s deep experience within the retirement savings space. The space and play are interesting within the context of the larger adoption of bitcoin as a serious and accessible digital currency. BitcoinIRA.com is certainly not the first group to offer bitcoin for investment. But serving the....
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If approved, retirement savers can allocate 20% of their savings portfolio to Bitcoin without the need to open a crypto exchange account. The United States-based retirement plan provider Fidelity Investments will reportedly allow 401(k) retirement saving account holders to directly invest in Bitcoin (BTC).The new Bitcoin retirement investment plan would go live later this year. It will allow over 23,000 companies associated with Fidelity to administrate their retirement accounts to offer Bitcoin investment options to the customers, reported WSJ.If the proposal to allocate BTC to their....
Unsurprisingly, the role of crypto in retirement investment will depend on the asset class’ mainstream adoption. On March 11, the United States Department of Labor warned employers that sponsor 401(k) retirement plans to “exercise extreme care” when dealing with cryptocurrencies and other digital assets, even threatening to pay extra legal attention to retirement plans with significant crypto investments.Its rationale is familiar to any crypto investor: The risk of fraud aside, digital assets are prone to volatility and, thus, may pose risks to the retirement savings of America’s workers.....
Bitcoin is becoming a recognized asset class with a low correlation to other asset classes. This makes it a good option for diversifying investment portfolios with retirement accounts, and some options do exist for investing in bitcoin for retirement. Diversifying Portfolios. Most investment advisors recommend having diversified retirement portfolios to....
Per a survey conducted by investment firm Capitalize, Bitcoin and cryptocurrencies have been gaining relevance as retirement investment options. Digital assets, once synonyms with speculation, and gambling, have acquired prestige as one of the best ways to secure people’s future. Related Reading | Will The Fed’s Interest Rate Hike Spur A Bitcoin Armageddon? Top Analyst […]
Bitcoin has gradually been finding its way into every part of society and its use as an investment vehicle has been the biggest part of it. There has been some pushback when it comes to using the cryptocurrencies in investment vehicles dominated by traditional finance but even this is starting to wane. Evidence of this is in the recent development from Fidelity Investments, which has announced that it would be allowing employees to invest in their 401k using Bitcoin. Retire With Bitcoin The 401k is one of the most popular investment vehicles aimed toward retirement for workers in the....