What is a Bitcoin IRA?

by: Jeff H | in Crypto, News, Retirement

Sagwell Financial featued in US News & World report article on IRAs

Please Note: The following excerpt is taken from U.S .News & World Report article found here:

The popularity of cryptocurrency continues to soar, pushed by a younger generation of investors who see it as the future of currencies, despite the volatility and warnings from financial regulators. As support for digital currency grows, some investors are asking financial advisors if it can and should be part of their retirement plans. Sagewell Financial CEO Sam Zimmerman recently discussed the pros and cons of having Bitcoin and other Cryptocurrencies as part of your individual retirement account with U.S. News & World Report.

“At its core, it is a Roth IRA in which you can add Bitcoin specifically and other cryptocurrency assets as well,” says Sam Zimmerman, founder and CEO of Sagewell Financial in Cambridge, Massachusetts. “Originally there were only a few players, but at this point some incumbents are even offering Bitcoin-based IRAs.”

“Cryptocurrency is a new and volatile asset. There are patterns that occur with other currencies, and there’s a lot of uncertainty about Bitcoin,” Zimmerman says. “We don’t even know necessarily how it might respond or how it has historically responded.”

Read the whole article at U.S. News & World Report website by clicking here:

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