A financial conduit pioneering the use of bitcoin as a retirement tool, BitCoinIRA.com has announced its official launch of the “Bitcoin IRA.” The company will offer a unique cryptocurrency alternative to traditional IRAs for investors who are seeking to diversify their portfolio and protect their retirement savings and 401(k) plans.
Edmund C. Moy, former Director of the United States Mint, serves as the Company’s Chief Strategist, and provides the company with an in-depth knowledge and decades of experience in currency trading and global economic markets.
Moy commented: “Bitcoin is unique in that it’s a completely decentralized currency. Thanks to its truly global nature, it has a lower risk of collapse than more traditional investment assets, which depend on the strength of the dollar. I’m thrilled to be working with BitCoinIRA.com at the forefront of this exciting new market. In these increasingly uncertain economic times, digital currencies like bitcoin will continue to grow in appeal and value. BitCoinIRA.com offers a way for people to protect themselves against a volatile and unpredictable market.”
The “Bitcoin IRA” differs from other bitcoin investment options in that it allows investors to possess bitcoins from a digital currency exchange in an IRA-designed security wallet. The company offers real bitcoins as part of a retirement portfolio, as opposed to the more volatile bitcoin-related derivatives such as stocks or exchange-traded funds, which are highly dependent on the strength of the dollar.
Chris Kline, Chief Operating Officer at BitCoinIRA.com, remarked: “This is a pioneering event in the retirement industry. For the first time ever, IRA owners can hold actual bitcoin in a private and anonymous securitized wallet. This will pave the way for more alternative investments for years to come. We are thrilled to be a part of this moment in history,”
To ensure the quality and security of its financial services, BitCoinIRA.com has entered into an exclusive partnership with Palo Alto-based BitGo, who specialise in blockchain security and multi-signature wallets and support over $1 billion worth of transactions every month.
Director of Strategic Initiatives for BitGo, Jonathan Silverman said: “We are humbled that BitGo’s treasury management and policy controls will facilitate the secure storage and safe access of digital currencies for BitCoinIRA.com and its customers. We look forward to the growing use of digital currencies and the portfolio diversification for retail and institutional customers alike,”