What Bitcoin Has to Do with Your Retirement

Bitcoin has made the news every time it hit new record highs in terms of price and market capitalization. It has been a hot commodity for traders and young adults investing in it hoping to get rich. Yet it has become an alternative investment worth considering for long-term investment, too. For example, it might be a good fit for your retirement portfolio, whether you invest in it directly or indirectly. Let’s learn what Bitcoin has to do with your retirement.  It Is Become a Legal Investment  Bitcoin was never illegal in the United States. However, there are many investments that cannot legally be purchased by large institutions or put in retirement accounts until it complies with the Internal Revenue Service regulations. The first IRS compliant Bitcoin IRA appeared in 2016. You can also invest in hedge funds that are mining Bitcoin. This parallels the practice of investing in gold mining companies instead of buying and holding gold in your IRA. Several insurance companies are working on investing in Bitcoin, but that is still in the works. And there are other options for annuity companies such as investing in firms developing new applications for Bitcoin.  Or they may invest in ETFs that invest in part but not in whole in cryptocurrencies.  It Has Become an Easily Traded Commodity  It takes a certain level of tech-savvy to mine Bitcoin. Every ten minutes, the servers generating new Bitcoins throw ou...