The pension crisis is deepening across the world. As a result, Bitcoin-based retirement products are now taking center stage. Most notably, the Bitcoin IRA, which is already processing over $350 million.
Investor Sentiment Is Bullish on Bitcoin
The pension crisis is spreading all over the world. In many countries, retirees are seeing their pensions reduced by government ruling, by inflation, or by diminishing bond yields.
Then follow us on Google News!
Indeed, current negative bond yields can no longer provide the returns needed to fulfill the promises made to retirees.
In the U.K., academics are on an eight-day strike to demonstrate their rejection of pay cuts and “increased pension costs or deteriorating conditions.”
In the U.S., according to the Los Angeles Times, industrial conglomerates, such as General Electric, “are ending ‘salary style’ pension schemes,” afflicting thousands of employees.
Investor sentiment regarding the future of the crypto market and retirement Bitcoin-based solutions, however, is bullish. This is the sentiment Chris Kline, Chief Operating Officer at Bitcoin IRA, expressed in an interview with LearnBonds.com.
Bitcoin IRA allows the transfer of an IRA or 401 K retirement savings plan to a Bitcoin IRA.
Klein claims that Bitcoin IRA has already processed over $350 million in investments in the last 12 months. When LearnBonds asked him about the possibility of Bitcoin IRA reaching investments for $1 billion and attracting 10,000 clients shortly, Klein replied,
Most certainly. Our upcoming product rollouts and major crypto events like Bitcoin halving, China’s federal cryptocurrency, and Facebook’s Libra on the horizon we see the future as very promising for our company and all crypto investors.
IRA Financial Digital Retirement App
In response to the pension crisis, innovative companies are stepping up to offer Bitcoin-based solutions.
IRA Financial, a leading provider of self-directed retirement plans, joined efforts with Gemini Exchange, to launch an IRA Financial digital retirement app. This solution allows investors to trade Bitcoin and other cryptocurrencies with no need of a Limited Liability Company (LLC) or a third-party broker. According to the press release of November 25, 2019,
This will bring the cost of investors’ crypto transactions down significantly, as the Individual Retirement Account (IRA) will be opened directly with Gemini Exchange in the name of the IRA. As a result, the investor can trade cryptocurrency with a charge of one percent, far less than the cost associated with a third-party broker.
At the launching of the digital product, Adam Bergman, President of IRA Financial, stated,
It is our strong belief that the best and safest way to purchase Bitcoin and other cryptocurrencies with IRA funds is with our digital solution.
Our new digital Bitcoin solution will do for IRA cryptocurrency investments what online brokers did for equities.
Do you think Bitcoin will ever become a mainstream retirement investment opportunity? Let us know what you think in the comments below.
Images via Shutterstock
The post Bitcoin-Based IRA Investments to Break $1 Billion Soon appeared first on Bitcoinist.com.
Bitcoinist.com is author of this content, TheBitcoinNews.com is is not responsible for the content of external sites.
TheBitcoinNews.com is here for you 24/7 to keep you informed on everything crypto. Like what we do? Tip us some BAT
Send Tip now!