More investors are turning to self-directed IRA accounts as a way to bet on bitcoin in their retirement portfolios.
BitcoinIRA launched in May of 2016, offering investors the tax-advantage of an IRA, plus the return of a high-risk, high-reward alternative asset class.
"Since bitcoin is legally classified as property by the U.S. government and my crypto is inside of an IRA, I knew that I would greatly reduce my taxable expenses due to exponential growth," said Roed.The MBA grad, father, and husband initially invested $30,000 into his BitcoinIRA. Right now, he says that his retirement portfolio is up to $250,000,of $500,000, Roed still feels vindicated in his conviction that bitcoin is the future.
BitcoinIRA isn't just dealing in bitcoin either. It now includes a long list of cryptocurrencies, including ethereum and litecoin."To have a portfolio that has exposure...to a single crypto like bitcoin, that doesn't make any sense, because while bitcoin is the most important one right now, its share of the overall capitalization of cryptos has decreased through time. There are so many other tokens out there," Harvey said.
"The amount of people interested in including bitcoin in their retirement savings...is increasing exponentially," said Radloff. "People don't want zombie retirement accounts that only allow you to invest in three target-date funds. They want to have more choice in what they do with their hard-earned money, and they want access to hard-assets that will increase in value over a long time horizon.
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