Bitcoin users can invest their Bitcoin in a fully compliant IRA retirement account through a new service announced today by BitcoinIRA.com. The Bitcoin IRA enables investors to hold Bitcoin directly as part of a tax-advantaged retirement portfolio. The company’s Chief Strategist is former director of the U.S. Mint Edmund C. Moy.
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‘Lower Risk’ with Bitcoin Retirement Investing
“Bitcoin is unique in that it’s a completely decentralized currency,” said Moy. “Thanks to its truly global nature, it has a lower risk of collapse than more traditional investment assets, which depend on the strength of the dollar. I’m thrilled to be working with BitCoinIRA.com at the forefront of this exciting new market.”
The company announced its first-of-its-kind “Bitcoin IRA” investment product that offers a new means for users to invest in bitcoin for the long term. A Bitcoin IRA allows users to hold bitcoin directly in their retirement account as an investment vehicle.
Typical IRA accounts hold paper investments such as stocks, bonds and mutual funds. Other Bitcoin investment products have attempted to fit this mold, including the pink sheet Bitcoin Investment Trust from Digital Currency Group.