You can’t escape the hype. It seems that everywhere you turn, people are talking about bitcoin. But few people understand what bitcoin is and how it works.
Bitcoin is a peer-to-peer system where transactions typically take place directly between users. It works without a single or central administrator, unlike the U.S. dollar, which is produced and managed entirely by the U.S. Treasury and the Federal Reserve. Bitcoins can be exchanged for services, products and various currencies. As we have seen in recent years, the currency can also be used for investment purposes.
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1. The Self-Directed IRA landscape is evolving.
2. Bitcoin has increased in value.
3. The viability of bitcoin IRA investments is questionable.
4. The legality of bitcoin is currently being debated worldwide.
5. The IRS does not prohibit IRA investments into Bitcoins.
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