Are Bitcoin IRAs Safe?

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In this video, I discuss Bitcoin IRAs and the risks that you take on if you allow a custodian to hold your Bitcoin private keys.

"Not your keys, not your coins."

In an Executive Order 6102-like situation, any Bitcoin held by a third-party custodian (including retirement accounts) could and would be seized by the US government.

A much better solution for Bitcoin IRAs is to use something like Unchained's multisig product, where you hold 2 keys and Unchained holds 1 key.

In a severe crisis, the US government and central bankers will do whatever is necessary to protect themselves, even if that involves stealing private property from American citizens and residents.

For some people, it may (at least hypothetically) make sense to cash out their IRAs, pay the very steep penalties, and move the proceeds into anonymous Bitcoin. It really just depends how bearish you are on your country, and how bad you expect things to get.

That's not financial or tax or legal advice.

Not investment advice! Consult a financial advisor.

Executive Order 6102:
https://en.wikipedia.org/wiki/Executi...

The US Constitution Is A Shipcoin:

• The US Constituti...

Best Way To Store Large Amounts of Bitcoin (Multi-Sig):

• Best Way To Store...

Unchained's Bitcoin IRA:
https://unchained.com/bitcoin-ira

• Introduction to b...

I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.

My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.

#Bitcoin
#retirement

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