BitCoinIRA.com, a financial conduit pioneering the use of bitcoin as a retirement tool, has recently announced the official launch of “Bitcoin IRA”, which will enable investors to fund their Individual Retirement Account (IRA) with bitcoin instead of cash, gold, bonds, art work or some other kind of investment vehicle.
The company says that a bitcoin IRA is like any other IRA and, subject to the same IRS regulations. It will offer a unique alternative to traditional IRAs for investors who are interested in diversifying their portfolio and protect their retirement savings and 401(k) plans.
What separates Bitcoin IRA from other bitcoin investment options is that it allows investors to possess actual bitcoins from a digital currency exchange in an IRA-designed security wallet. It is the first to offer real bitcoins as part of a retirement portfolio, as opposed to the more volatile bitcoin-related derivatives such as stocks or exchange-traded funds, which are highly dependent on the dollar’s strength.
“This is a pioneering event in the retirement industry. For the first time ever, IRA owners can hold actual bitcoin in a private and anonymous securitized wallet. This will pave the way for more alternative investments for years to come. We are thrilled to be a part of this moment in history,” says Chris Kline, Chief Operating Officer at BitCoinIRA.com.
The company also announced that it has entered into an exclusive partnership with BitGo, the industry leader in blockchain security and multi-signature wallets, to ensure the quality and security of its financial services.
"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," said Jonathan Silverman, Director of Strategic Initiatives for BitGo.
The company’s Chief Strategist is Edmund C. Moy, who served as the former Director of the United States Mint. He brings his extensive knowledge and decades of experience in currency trading and global economic markets to Bitcoin IRA.
“Bitcoin is unique in that it’s a completely decentralized currency,” said Moy, who served as the Mint’s 38th Director from 2006-2011. “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.”
