Investors around the globe have expressed great interest in diversifying in digital assets. In a push to off-set traditional market risk, some investors have allocated crypto assets to their retirement portfolios. With Bitcoin being the best performing asset class in 2020, these investors have reaped great benefits despite stock market uncertainties. As Bitcoin inches closer to all-time highs, a digital asset IRA platform is processing tens of millions and helping retail investors manage overall risk.
Crypto Investors
Earlier this year, it was reported that retail investors were departing Wall Street and looking to diversify in Bitcoin and Gold. The world’s largest financial firms still avoid advising on crypto-assets like Bitcoin. With the pandemic sparking global uncertainties in traditional markets, Bitcoin and Gold have historically been great hedge assets. Since its inception, Bitcoin continues to be inversely related to traditional markets. With BTC outperforming during unprecedented times, all eyes are on the largest digital asset that has surged ~ 137% YTD. Digital asset platforms that allow investors to invest in alternative assets are seeing an influx of new users.
Bitcoin IRA
Bitcoin IRA, a digital asset tech platform, is a company experiencing elevated demand in 2020. Bitcoin IRA provides a trading platform for self-directed retirement accounts. Investors around the globe either open up new retirement accounts on the platform or rollover existing IRAs and 401Ks. By doing so, investors have direct access to alternative assets such as gold and cryptocurrencies. In regards to digital assets, investors have access to Bitcoin, Ethereum, XRP, Litecoin, Bitcoin Cash, Stellar, and Zcash.
According to a recent press release, the company has overseen $60M in transactions during 2020. Since Bitcoin IRA started offering investment services in 2016, the company has seen $500M in total transactions. In a Q4 survey conducted by the company back in October, most investors plan to hold cryptocurrencies for the long-term upon macro uncertainties such as inflation and debt.
Increasing Demand
Companies like Bitcoin IRA are seeing increasing demand due to the landscape in traditional finance. In the current environment, an investor can not call up a local broker and request to add Bitcoin to their retirement accounts. If you were to contact a broker at firms like Etrade or TDAmeritrade, they would simply tell you they do not offer support for digital assets. With this being said, self-directed platforms like Bitcoin IRA have emerged. They have implemented the proper infrastructure to give investors the chance to diversify in alternative assets. Given the current environment and sentiment around digital assets, platforms like Bitcoin IRA are poised to experience explosive growth while investors search for alternatives outside of Wall Street.
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