If you are looking to add some much-needed diversity to your investment portfolio, you may be looking for ways that you can add Bitcoin to your Roth IRA account.
While this would have seemed like an impossibility just a few years ago, it is actually quite straightforward to put Bitcoin in an IRA account.
But how do you do it? Well, you have come to the right place to find out. Let’s break down how people are putting Bitcoin in a Roth IRA account together so that you can get started on building out your own cryptocurrency fortune with the help of Viva Capital.
Why are people adding Bitcoin to their IRA?
If you are relatively new to the world of cryptocurrency, you may be wondering why people are so intent on adding Bitcoin to their Roth IRA account at all? After all, the idea of a fully digital currency, whose value is tied to nothing in the physical world, can be quite scary to many people.
Well, the truth is that investing in BTC is much like investing in any stock. Sure, stocks are connected to the value of the company, but BTC itself is becoming its own financial institution. IT has now been around for years and has shown massive gains.
Though the gains are not what they used to be – now that BTC is hovering between $45,000 and $55,000 per coin, they are still consistent and are expected to yield massive returns over time.
How to add bitcoin to your Roth IRA
While Roth IRAs are typically managed by custodians or trustees for investors, there are other opportunities that people can take advantage of by opening a self-directed IRA account through custodians and trustees.
The process to add Bitcoin to your self-directed IRA is fast and easy. You need to open this type of IRA account through a secure e-sign application, and then you need to complete a Bitcoin allocation order.
From there, you will have the Bitcoin safely locked away and you will not be able to access it until you are 59.5 years old! While you can technically take it out sooner, you will face a financial penalty by doing so.
Will Bitcoin still be valuable then?
Depending on what age you are, you may be wondering if Bitcoin will even be valuable by the time you are 59.5 years old. The truth is that it will likely be far more valuable than you can even imagine! In fact, some experts predict that BTC will be worth $10 million per coin within the decade! From there, it seems likely that only the sky’s the limit for the value of the world’s leading cryptocurrency.
For that reason, it would be highly wise for any person looking ahead and trying to secure a comfortable financial future to purchase some Bitcoin and get started on diversifying their investment portfolio for the financial future. Though it may seem pricey now, think how happy you’ll be when BTC hits even $1 million per coin!
Good luck!