Bitcoin, retirement, and the long-term mindset
Note: The following is not investment advice, but represents my personal thoughts for my own investment portfolio. Do your own research.
What is the most frequent advice we give bitcoin newbies today?
HODL. Don’t try to trade your bitcoin for short-term gains, just buy it and don’t touch it. For a long time. For those who have succeeded in this, bitcoin has proven to be one of the best investments of the last decade.
For retirement planning, what advice do you hear most often?
Buy and hold your investments. Ignore news cycles and invest on a long time scale, so investment gains have a chance to compound. Use an IRA or 401k to get tax advantaged investment gains.
See where I’m going with this? The ethos of bitcoin as a long term investment matches perfectly with the practical advice of long term thinking for retirement investing.
This is why I was so excited about our partnership with Choice, who is helping anyone invest in bitcoin through an IRA. I’ve been looking for a solution for this, and didn’t quite want to spend the time that the inimitable Lopp did to set up his personal bitcoin IRA years ago.
Yet, if bitcoin is meant to be a new financial system outside of the traditional government fiat system, why would you invest in it through a government sanctioned tool like an IRA?
Holding the keys to your retirement
This is why Choice’s option to “Hold Your Keys” with Casa is so critical. By holding the keys to the bitcoin in your IRA, you are prepared for two possible outcomes:
- The current financial system continues to exist, and any capital gains from your bitcoin investment are tax free. You still have your bitcoin.
- The current financial system breaks down, and bitcoin becomes the new world reserve currency. You still have your bitcoin. You don’t have to worry about it being caught up in the financial system collapse, because you are holding the keys.
Let’s say you aren’t holding the keys and option 2 happens: there’s a chance you don’t have your bitcoin, because it was lost or seized while everything collapsed.
Holding your own bitcoin keys means you are prepared for anything. You, and only you, are in charge of your savings.
Bitcoin gives you real control over your money
Being empowered with full control of your bitcoin is a new paradigm for how we interact with our money. Casa’s partnership with Choice is only the first step into providing new ways to interact with bitcoin financial services while holding your own private keys.
We’ll continue building easy ways for people to hold their own bitcoin, without the risk of losing funds due to a mistake. Casa ensures you can protect what matters for you and your family.
Ready to get peace of mind about your bitcoin security? Sign up for Casa today.
Get on the waitlist for a bitcoin IRA with Choice & Casa
Not yet a Casa client? You can join Choice's waitlist here. Let them know you're interested in the 'Hold Your Keys with Casa' option.
Already a Casa user? Reach out to us at firstname.lastname@example.org now to let us know. We'll inform you when the Choice integration goes live.
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