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 option up for the average investor seems like a pretty good idea.
If the reader will recall SecondMarket . The group was initially founded as a platform where privately-held and growth-stage companies could raise capital. In September of 2014, the SecondMarket team launched the Bitcoin Investment Trust. The gist of the product was to offer bitcoin exposure to accredited investors without the hassle of managing wallets or the necessity of accessing exchanges. Catering to accredited investors played in the group’s favor as they did not have to adhere to a much more stringent regulatory process. Also of note, recall that Barry Silbert founded SecondMarket. So why is this relevant?
Well, it’s relevant because BitcoinIRA.com has entered into an exclusive partnership with Bitgo to provide transaction services. Bitgo is one of Silbert’s investments through his personal investment Bitcoin Opportunity Corp. (Silbert along with other Valley elites, that is.) The BitcoinIRA.com folks have some serious horsepower insofar as connectivity and validation by the old guard of cryptos.
Regarding the relationship with BitcoinIRA.com, Bitgo’s Jonathan Silverman, Director of Strategic Initiatives says:
We are humbled that BitGo’s treasury management and policy controls will facilitate the secure storage and safe access of digital currencies for BitCoinIRA.com and its customers. We look forward to the growing use of digital currencies and the portfolio diversification for retail and institutional customers alike.
One of the main features of the BitcoinIRA.com play is the theoretically non-market correlation of bitcoin.
In a society where the future for most just might be working past the typical retirement age in a remote, possibly even gig-oriented career, optionality will be important. BitcoinIRA.com just might be another way to ensure you can enjoy your golden years.
Featured image from Shutterstock.
