Cryptocurrencies are once again outperforming traditional assets with prominent investors now recommending the new asset class.
LOS ANGELES, Sept. 16, 2020 /PRNewswire/ -- Bitcoin IRA, the world's first, largest, and most secure IRA platform that allows clients to purchase digital assets like cryptocurrencies for their retirement accounts, is experiencing the largest demand for its alternative retirement services since the crypto explosion in late 2017, reaching nearly $500 million in digital asset retirement transactions overall.
Bitcoin continues to greatly outperforming the market
This year Bitcoin vastly outperformed stocks and traditional asset classes. As of September 14, Bitcoin is up 43% this year while the S&P is only up 4% and the Dow is down 3%. Other popular cryptos have risen much higher including Ethereum, up 167%, and Chainlink, up 522% (Source: TradingView).
Bitcoin's price increase has largely been driven by increased trading activity and its critical "halving" event earlier this year where its inflation rate was automatically cut in half, thus increasing its scarcity to that similar of gold. Ethereum and many of the alternative cryptos are seeing dramatically higher usage of their networks due to increased demand and a new decentralized finance trend, known as "DeFi." This is where users can quickly borrow and lend digital money for more favorable rates by bypassing traditional banks.
Major prominent investors are now recommending crypto and gold
A number of prominent investors are now recommending crypto and gold as a hedge against economic concerns. This includes excessive inflation, central bank debt and increased money supply, as results of aggressive monetary and fiscal policies spurred by the COVID-19 pandemic.
These crypto and gold supporters include Former Prudential CEO, George Ball, who recently advised his clients to invest in Bitcoin and famed billionaire and hedge-fund investor Paul Tutor Jones wrote a thorough letter to his clients recommending them to buy Bitcoin "as a hedge against inflation." Warren Buffet has also been selling his stake in traditional big banks and buying gold-focused companies with his recent investment of $563 million in GOLD, a gold mining company, as part of a portfolio shift foreshadowing high inflation in the coming years.
Investors can safely add crypto to their IRAs today with Bitcoin IRA
Bitcoin IRA enables individuals to rollover their existing IRAs, or start a new one, and buy crypto using their proprietary 24/7 online self-trading platform.
Since 2016, Bitcoin IRA has processed over $400 million in cryptocurrency transactions, opened more than 50,000 consumer accounts, and received over 2,500 5-star consumer reviews.
Today individuals can invest in eight assets including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH), Stellar Lumens (XLM), Zcash (ZEC) and physical gold. The company also helps individuals save for retirement by investing in crypto for as little as $100 a month with their recently announced product, "Saver IRA."
ABOUT BITCOIN IRA
Bitcoin IRA, available at bitcoinira.com, is the world's first, largest, and most secure digital asset IRA technology platform that allows clients to purchase cryptocurrencies and physical gold for their retirement accounts.
The company provides a trading platform for self-directed retirement accounts which allows clients to set up a qualified digital asset IRA account, transfer funds from an existing IRA custodian, execute trades in real-time 24/7 through a leading exchange, and then moves the funds into an industry-leading multi-signature digital wallet from BitGo, Inc.
Since 2016, Bitcoin IRA has processed over $400 million in investments, opened more than 50,000 consumer accounts, and received more than 2,500 5-star client reviews. The company has been featured extensively in the media, with coverage in Forbes magazine, CNBC, CoinDesk, and The Wall Street Journal, among other publications.
Bitcoin IRA is a financial services technology provider and as such is not a financial adviser, cryptocurrency, exchange, custodian, wallet provider, initial coin offering (ICO), or money transmitter. Bitcoin IRA is privately funded and based in Los Angeles.
View original content to download multimedia:http://www.prnewswire.com/news-releases/bitcoin-ira-a-new-wave-of-investors-are-buying-crypto-and-gold-301131951.html
SOURCE Bitcoin IRA