I recently heard about the possibility of holding Bitcoin in a tax-free retirement account. This sounds like a great idea to me, as it would allow me to invest in Bitcoin without having to worry about the tax implications. Does anyone have any experience with this? What are the pros and cons? Are there any other options for holding Bitcoin in a tax-free retirement account? Any advice would be greatly appreciated. Thanks!
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If you could just somehow buy non-kyc sats…. 🫣
*a tax-free retirement account…*
It’s called a Bitcoin wallet.
How you get the money and put it in there might be another story.
You can do this today in the States
ZERO percent.
You can do this with Alto IRA (coinbase is their custody I think). You can also buy GBTC in most broker IRAs.
Bitcoin is a tax free retirement account.
I hold bitcoin in a tax-free retirement account called BitBox02 and it is tax-free after holding it for minimum 1 year (in Germany). The percentage, you ask? A cool 100 percent vs. stock 0 percent…lol
It’s purely what your 401k is to you.
For some, they have most of their investments/retirement in a 401k. For others that 401k is a small part.
Mine is a small part so I’ve been thinking of making it all bitcoin with GBTC. It’s essentially play money for me.
Canadian here. Already do. I have allocated about 10% of my investments in a BTC ETF in my tax free savings account.
If you are american you can already do this if your brokerage allows you to have a tax free account that allows BTC ETF with Toronto stock exchange in Canada (Canadians can buy US Stocks on tax free accounts). Can buy BTCC.B of BTCX.B
The BTC ETF USA is waiting for already exists in Canada for a couple years now. If you want to buy now before the next pump (or dump) that’s your best option.
If you buy Bitcoin and NOT convert it back to fiat you don’t pay taxes on it.
I would never do this. Hold your own Bitcoin, put stocks and bonds in retirement accounts.
Boating accident. . .
84.9% (BTC), 9.06% (Stocks), 6.04% (Bonds).
It is tax free if you don’t sell.
My country has a spot bitcoin etf fully backed by bitcoin in cold storage. My tax free account is now 100% allocated to btc through this vehicle, fully out of the stock market.
Might allocate 20% or so to stonks after the next bull run pumps my bags tho.
Well, I have 100% of my tax-deferred account. 85% in GBTC and 15% in BITO
My ROTH is 60% BITO and the other 40% is RED in other stocks
10%
If….? 😂
I don’t see any problem really if cashing out your coin happens to coincide with your move to a tax-free country.
When I am able to retire, I won’t need to cash out the Bitcoin, I can just spend it.
When I faced financial hardship, I liquidated my 401K rather than my coins. Cold, dead, diamond hands.
80% BTC, 20% COIN
It’s actually easier in the US with long term cap gains to save money buying and selling BTC with 1+ year hold than a 401k or similar.
…but, the 401k is tax-free capital so technically it has an advantage over post-tax capital allocated to an investment.
For those already sitting on 6-figures in their 401k, btc is going to be a great option for them and that’s why SO many people underestimate retail. They simply aren’t taking into account the billions tied up in self-directed 401k’s
It’s crazy how many people here don’t understand that both short term and long term capital gains tax applies to all crypto. Guess most people are used to selling at a loss.