, Columnist
Bitcoin in Your IRA? What Could Possibly Go Wrong?
There are obvious risks in using volatile cryptocurrencies as retirement savings. And more that aren’t obvious.
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Photographer: Gabby Jones/BloombergThis article is for subscribers only.
Even the most adventurous investor would acknowledge that cryptocurrencies are risky. And that saving for retirement should be a search for a measure of safety.
Yet salespeople have been blanketing potential investors with email pitches urging them to put Bitcoin and other cryptocurrencies into individual retirement accounts. They tout eye-popping gains, warn of scary inflation and highlight endorsements to help legitimize the asset. The leading company in the field, Bitcoin IRA, recently unveiled a mobile app that makes it easy to make a crypto trade with retirement savings with the swipe of a finger.