Bitcoin Investment Trust ( IRA )

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in_reality
Posts: 4529
Joined: Fri Jul 12, 2013 6:13 am

Bitcoin Investment Trust ( IRA )

Post by in_reality »

Bitcoins in your IRA anyone?
The Bitcoin Investment Trust is currently working with three IRA providers — PENSCO, Entrust and Equity Institutional — to allow investors to include bitcoin in their self-directed IRAs
High expense ratios anyone?
The private bitcoin trust has annual administrative and safekeeping fee of 2%. The front-end fee, which is waived for investments made in 2013, will be 1.5%. Once investors are allowed to sell shares on SecondMarket in 2014, the back-end fee will be 1.5%.
Not sure if that is for the IRA or just trust investment though.

Personally I don't like gambling because that feeling of almost just isn't rewarding to me. I know there is a value to excitement in-and-of-itself but I cut that out of my budget to save :dollar

http://www.marketwatch.com/story/bitcoi ... 2013-09-25

http://blogs.marketwatch.com/thetell/20 ... n-in-iras/
WHL
Posts: 789
Joined: Mon Dec 10, 2012 1:22 pm

Re: Bitcoin Investment Trust ( IRA )

Post by WHL »

No thanks. You've already seen what happens to this "currency" when the biggest illegal marketplace is shutdown.

If you feel like speculating, make a traditional account through mtgox or one of the other trading houses. Don't risk your retirement assets!
chaz
Posts: 13604
Joined: Tue Feb 27, 2007 1:44 pm

Re: Bitcoin Investment Trust ( IRA )

Post by chaz »

Caveat emptor.
Chaz | | “Money is better than poverty, if only for financial reasons." Woody Allen | | http://www.bogleheads.org/wiki/index.php/Main_Page
clast
Posts: 128
Joined: Thu Oct 04, 2012 12:50 am

Re: Bitcoin Investment Trust ( IRA )

Post by clast »

WHL wrote:No thanks. You've already seen what happens to this "currency" when the biggest illegal marketplace is shutdown.

If you feel like speculating, make a traditional account through mtgox or one of the other trading houses. Don't risk your retirement assets!
I won't argue here for Bitcoin's long-term viability, but what happened when silkroad shut down was, the USD/Bitcoin exchange rate went from about $150, down to $112, up to about $370 currently.
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