Bitcoin prices rose from the pension storm bitcoin IRAs popular in the United States
The new consumer bitcoin interest are penetrating into the traditional retirement savings products, such as the use of bitcoin payment of pension individual retirement accounts (IndividualRetirementAccounts, IRAs). The reason for the bitcoin prices rose sharply this year.
Although the emergence of a new phenomenon, but the use of bitcoin payment of pensions and the use of the traditional way of investment (such as stocks and bonds) to pay for pension no difference. Identity card holders can be deducted from the annual income tax payment, until the institutions began to pay pensions, currently in the United States for the 59.5 year old can receive IRAs.
However, although there is no difference in the law of state pension accounts, but the most popular pension service provider allows only pre approved investment, rather than the more unusual options, such as bitcoin or private equity and property. However, with the sharp rise in the price of bitcoin, users are interested in turning a new attempt from the traditional mode.
At present, BitcoinIRA company is to use bitcoin trading platform BitGo to direct its holdings in storage in pension bitcoin, and the platform as the only choice. BitcoinIRA in 2016 June issued the first bitcoin IRA account, recently began offering Ethernet Fang IRAs.
Located in Portland Oregon BitcoinIRA DamonSmedley investors in BitcoinIRA last year opened an account. Smedley bought his first bitcoin in 2013, and has been tracking changes in the price of bitcoin.
BitcoinIRA chief operating officer ChrisKline said, this is typical of the early BitcoinIRA investor. However, Kline said, he also saw that bitcoin is not interested in people began to ask, why is affected by bitcoin prices.
Kline told the media:
“Our customers have bitcoin experts and novices, distributed in the age of 25-75 years old.”
BitcoinIRA received a one-time deposit Shoufu ratio, 15% in the 1.5-10 million; 13% in 10-20 million dollars, more than $200 thousand in 11%.
KingdomTrust as a partner of BitcoinIRA, will be charged the cost of hosting bitcoin holdings in multi signature bitcoin wallet, so that investors can real-time verification of capital.
The user interest is increasing
Kline said that the interest of users of the BitcoinIRA surge, because bitcoin prices continued to soar. So far this year, bitcoin prices almost doubled, rising from the end of 2016, nearly $1000 to nearly $2000.
To account for this growth, Kline expects bitcoin one day will be like stocks or bonds as long held by users. In fact, if there is an asset class is very suitable for retirement savings products such as IRA, then it is likely that bitcoin. Bitcoin as time goes on, the price will rise.
It is worth noting that, since the beginning of the year, the price of bitcoin has undoubtedly increased by 900%.