This week’s Bitcoin.com podcast with our host Richard Jacobs features Chris Kline COO at Bitcoin IRA the retirement plan backed by cryptocurrency.
Also read: South Africa Will Begin Testing Bitcoin and Crypto Regulations
Chris Kline the COO of Bitcoin IRA tells the Bitcoin.com podcast how the company got started offering a retirement plan based off of bitcoin. Funds like these that offer cryptocurrency backing have become popular investment vehicles for those planning for retirement. The firm has been working with alternative investments and IRAs for over ten years procuring valuable securities like real estate, and precious metals. Then one day Kline was asked if they ever thought about creating an IRA with cryptocurrencies. At the time Kline wasn’t too familiar with bitcoin but when the company started researching the technology it seemed like a perfect fit.
“Once we got behind the wheel we realized how powerful this disruptive force would be in the world of our monetary system,” explains Kline.
The fund launched last year and its first account was the former director of the United States Mint, Edmund C. Moy. At first, Kline says people didn’t pay much attention to the fund but as cryptocurrencies became more popular this year things are a whole lot different.
“You walk into a room of bankers and regulators two to three years ago, and you say the word Bitcoin, and 95% of them stopped listening to you,” says Chris Kline. “Now, things have changed.”
The Bitcoin IRA is the first crypto-only IRA on the market and Kline details the fund was designed with “security and safety in mind, first and foremost.” To hear more about the Bitcoin IRA you can stream the player below or follow this link here to our podcast page.
What do you think about bitcoin-based retirement accounts? Let us know in the comments below.
Images via Bitcoin.com and the Bitcoin IRA.
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