Is a bitcoin IRA legitimate?
The IRS Does Not Approve IRA Investments
By Percy Venegas www.EconomyMonitor.com
An Individual Retirement Arrangement (IRA) that invests in bitcoin usually refers to a particular case of the so-called self-directed IRAs.
review or approve investments.
endorse any investments.
advise people on how to invest their IRAs.
issue any statement that an investment in an IRA is protected because a particular trustee or custodian has been approved by the IRS.
…but it does not, however, explicitly prohibit them.
Demand demographics
Today, the population interested in bitcoin IRAs is largely the same of crypto enthusiasts: male, 40% under 35 years old. They have previous experience as crypto investors (mining, ICOs, etc). A second segment is interested in personal finance and investment in general; the general public has only shown interest in the last month, following a series of mainstream media publications by Forbes, HuffPost, and Drudge.
