For those contemplating retirement—who isn’t these days—the idea of a fast-appreciating investment might be music to your ears.
But should you have Bitcoin or other cryptocurrencies in your Individual Retirement Account (IRA)? After all, what’s not to like since Bitcoin gained some 1,200% last year? Wouldn’t that create a nest egg in no time?
Hold onto your wallet. Cryptocurrencies are shamelessly volatile. Bitcoin has lost more than half of its value this year and may be headed further south. No one really knows which digital currency will prevail over time.
So doesn’t that argue for holding a broad portfolio of cryptocurrencies? Diversify and spread around the risk? If such a vehicle existed in a mutual fund or low-cost exchange-traded fund existed, I would say…
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