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  • #91
    Originally posted by xraygoggles View Post
    Serious question: is there any financial machinery available to be able to buy crypto in IRA?
    You can buy GBTC which is essentially a Crypto ETF...It is not solely Bitcoin (they own other crypto) and you don't actually own any Bitcoin. But it is an option to have some exposure through an IRA. It would be like holding GLD in your IRA instead of holding physical gold in your safe deposit box.

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    • #92
      Originally posted by NapoleanDynamite View Post

      You can buy GBTC which is essentially a Crypto ETF...It is not solely Bitcoin (they own other crypto) and you don't actually own any Bitcoin. But it is an option to have some exposure through an IRA. It would be like holding GLD in your IRA instead of holding physical gold in your safe deposit box.
      GBTC trades over a premium of the value of BTC. More expensive more volatility -- learned the hard way. Not a fan, especially in retirements.

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      • #93
        Originally posted by chucki View Post

        GBTC trades over a premium of the value of BTC. More expensive more volatility -- learned the hard way. Not a fan, especially in retirements.
        Agree...I'm not recommending GBTC (I don't own any)...just letting people know their options. MSTR is another route to indirectly gain significant BTC exposure in a retirement account.

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        • #94
          Originally posted by chucki View Post
          Programmed digital scarcity -- Bitcoin is genius. I think the best argument *for* is store of value, basically that of digital gold. BTC was originally thought to be a digital currency -- and it is -- but because of the marked rise in value over time (even if you take out the 2017 and 2020 "bubbles" ) it doesn't make sense to spend it for goods an services. I have some issues with BTC, but those issues I would have had if I as around the first time fiat, gold, shells, or other form of currency was introduced to the world.

          This is a forum of high net worth individuals, and I would recommend that even the doubters should consider holding at least one BTC. Some investors I trust say 1% of NW should be BTC. You don't have to buy at the current highs -- DCA. IF it goes to zero, it's not going to be a big loss.
          just checking in on the semi-annual crypto"currency" thread. funny that these don't pop up when BTC is down 75%.

          why would you recommend somebody holding one BTC? or even 1%?

          I personally believe that everybody should have a bottle of Pappy 23 in their portfolio. at least you can drink it if the value goes to zero.

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          • #95
            Originally posted by NapoleanDynamite View Post

            You can buy GBTC which is essentially a Crypto ETF...It is not solely Bitcoin (they own other crypto) and you don't actually own any Bitcoin. But it is an option to have some exposure through an IRA. It would be like holding GLD in your IRA instead of holding physical gold in your safe deposit box.
            Meh, I'm not interested in buying an ETF with other alt-coins. Diversifying in crypto leads to DECREASED returns, due to 99% of them being shite-coins.

            I meant is there any legal strategy that I can use to form an IRA (ideally a Roth IRA) in order to buy bitcoin or ethereum? Like how there are ways you can buy real estate in your IRA, for example.

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            • #96
              If you are bullish crypto in the long run, you can also buy some public equities that own or transact Bitcoin. Square and Paypal are two big ones that come to mind. I'm long both as well.

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              • #97
                Originally posted by G View Post

                just checking in on the semi-annual crypto"currency" thread. funny that these don't pop up when BTC is down 75%.

                why would you recommend somebody holding one BTC? or even 1%?

                I personally believe that everybody should have a bottle of Pappy 23 in their portfolio. at least you can drink it if the value goes to zero.
                pappy and pateks again gotta have connections

                pm me if you got any

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                • #98
                  Originally posted by xraygoggles View Post

                  Meh, I'm not interested in buying an ETF with other alt-coins. Diversifying in crypto leads to DECREASED returns, due to 99% of them being shite-coins.

                  I meant is there any legal strategy that I can use to form an IRA (ideally a Roth IRA) in order to buy bitcoin or ethereum? Like how there are ways you can buy real estate in your IRA, for example.
                  “checkbook” IRA

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                  • #99
                    Originally posted by jacoavlu View Post

                    pappy and pateks again gotta have connections

                    pm me if you got any
                    let's see how the fall/winter lotteries go in terms of duplicates.

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                    • Originally posted by jacoavlu View Post

                      “checkbook” IRA
                      thanks will check it out

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                      • Originally posted by DrSam View Post

                        Quit eating all our steak!
                        Vote for Pedro!
                        Helping those who wear the white coat get a fair shake on Wall Street since 2011

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                        • Originally posted by jacoavlu View Post

                          “checkbook” IRA
                          https://www.whitecoatinvestor.com/retirementaccounts/
                          Helping those who wear the white coat get a fair shake on Wall Street since 2011

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                          • The simple question the Bitcoin enthusiasts cannot seem to answer for me:

                            If Bitcoin becomes, as you expect, the currency of the future, why would I not be able to sell my real estate, stocks, bonds, and services for Bitcoin to use to buy my groceries and gasoline?

                            I would? Oh wonderful. Then why would I need to buy it now unless I needed a massive rise in a speculative investment to reach my financial goals (which I do not)? Why can't I just wait until 1 bitcoin is worth $1 Million or $10 Million or $100 Million or whatever? There is zero harm to my financial goals to do that. You get rich. I still reach my goals. Everyone is happy. Why must I invest now to make you happy or to convince you that I understand how Bitcoin works? Why must I read your 25 Bitcoin books or follow your favorite Bitcoin bloggers or podcasters? It's like a religion for some of these folks. They have this massive urge to convert others to their way of thinking. Last I checked, the entrance fee to heaven is not charged in Bitcoin.
                            Helping those who wear the white coat get a fair shake on Wall Street since 2011

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                            • Originally posted by The White Coat Investor View Post
                              Last I checked, the entrance fee to heaven is not charged in Bitcoin.
                              No, they use Ethereum there.

                              Comment


                              • Originally posted by The White Coat Investor View Post
                                The simple question the Bitcoin enthusiasts cannot seem to answer for me:

                                If Bitcoin becomes, as you expect, the currency of the future, why would I not be able to sell my real estate, stocks, bonds, and services for Bitcoin to use to buy my groceries and gasoline?

                                I would? Oh wonderful. Then why would I need to buy it now unless I needed a massive rise in a speculative investment to reach my financial goals (which I do not)? Why can't I just wait until 1 bitcoin is worth $1 Million or $10 Million or $100 Million or whatever? There is zero harm to my financial goals to do that. You get rich. I still reach my goals. Everyone is happy. Why must I invest now to make you happy or to convince you that I understand how Bitcoin works? Why must I read your 25 Bitcoin books or follow your favorite Bitcoin bloggers or podcasters? It's like a religion for some of these folks. They have this massive urge to convert others to their way of thinking. Last I checked, the entrance fee to heaven is not charged in Bitcoin.
                                Jim,

                                The Bitcoin argument you are making is somewhat outdated. BTC may be used in the future for purchases. Some of the Bitcoin maximalists would make this argument. And they may end up being correct. And could you one day sell your real estate, stocks, bonds etc to buy food and groceries? Yes. However, I would argue that if we go through a period of hyperinflation like the Weimer Republic (https://en.wikipedia.org/wiki/Hyperi...eimar_Republic) that your stocks and bonds wouldn't be worth much as they are priced in the USD. Your real estate would lose value but it is likely a much better hold than the others in a worst case scenario. I know that the chance of a hyperinflation event like this is slim for the US, but it is a very real possibility in different countries around the world and it is not out of the realm of possibility in the US.

                                You are also correct that you could wait and invest later and if one has already met their investment goals then they can sit back and relax. However, your site is based on educating people that have not yet met their goals. From your mission statement "boost financial literacy among high income professionals". Over the past 10 years Bitcoin has outperformed every asset class. There is very good reason to see it outperforming all other asset classes over the next 10 years. Completely ignoring an asset class that could outperform all other assets is not boosting financial literacy. If you thought the S/P would outperform real estate would you not encourage your readers to learn about it? Alternatively if you thought there were good reasons that bonds would outperform TSM would you not want your readers to learn about them?

                                Why does bitcoin trigger you so much? I do agree with you that for some Bitcoin is a religion. Maybe that is the reason you are so bothered by it. Maybe the maxi's trigger you because of their politics and beliefs. I can understand that. There are some Bogleheads and Indexer's that take things too far as well. I could probably make the same argument for every asset class/investing belief. There are maximalists that only see the utopia that their way can provide.

                                I'm have in no way suggested that everyone should take their entire life's work and convert it to Bitcoin and join a belief that Bitcoin is the only thing that will save the world. But I am suggesting that people spend some time learning about it. I think it would greatly improve their future investment returns. Maybe time will prove me wrong. At bare minimum people that start down the Bitcoin rabbit hole will learn some interesting history, economics and finance.


                                Thanks!

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