2021 Was ‘Busiest Year By Far’ For Bitcoin IRAs, Interest In Ethereum & Altcoins Grows
As cryptocurrencies are gaining attention as the mainstream investment vehicle, post-retirement savings in the form of IRA accounts holding digital assets are increasing in the United States.And according to industry insiders Cryptonews.com Despite the volatile Bitcoin (BTC), we heard that 2021 was the best year ever to offer crypto IRA. They also say that interest in altcoin is growing.
“During the second wave of 2021, we realized that people were motivated to open accounts for inflation concerns and new monetary policy announcements,” he said. Bitcoin IRA, Said.
He added that with this year’s macro event, many people are interested in cryptocurrencies as a hedge against inflation and want to invest to “be part of the economic revolution.”
Asked if interest fell following the sold-outs seen in the crypto market over the past few months, Klein said they “did not see it at all.” The company expected investor interest to slow, but he added that a record number of new accounts were opened in November and December last year.
“This increase was driven primarily by the bullish outlook for 2022 among crypto investors and inflationary concerns that dominate news coverage,” Klein added without providing figures.
Similarly, Jeremy Warner, BitIRASaid that 2021 was their “busiest year ever”, but admitted that the last two months weren’t as good as a year overall.
Warner said investor interest from November to January “has definitely separated tourists and followers,” adding that many seem to have learned “when to buy a dip.” rice field.
Regarding digital assets that people tend to put in their retirement portfolio, Warner said Bitcoin, Ethereum (ETH) and Chainlink (LINK) are at the top of the list, and Bitcoin IRA Klein is Solana (SOL). Frequently requested altcoin that said it was different.
in the meantime, Coin IRA CEO Brenda Whitman said Cryptonews.com Interest in crypto retirement savings “steadily increased” during 2021 as more people learned that they could use the retirement fund to buy crypto.
However, as the market fell towards the end of 2021, Whitman admitted that some new investors had “getting jitter” from volatility. “But smart investors and those with cryptocurrency knowledge and experience are taking this opportunity to buy at an average cost and at a great price,” Whitman said.
Regarding future industry challenges, the CEO of Coin IRA said that the difficulty of adding a particular altcoin to an IRA account is one of the most common problems facing clients.
“The main limitation is that some investors want to buy altcoins that aren’t yet available in the IRA,” Whitman said, adding that it’s up to the IRA custodians to decide which coins are eligible. I did.
Finally, Jared Kulak, Vice President of Business Development Broad financial Said Cryptonews.com That interest from customers generally follows the overall direction of the crypto market.
“It’s pretty much in line with what the market is doing. Yes, we’ve got a lot of calls, but in general, when the market goes down, fewer people make calls,” Kulak said. Says.
He added that the company, which previously dealt only with real estate IRA, is now “as much or maybe a little more” interested in people considering investing in cryptocurrencies.
“You will really be very surprised […] Cryptocurrencies seem to be for young people, but most of the people I speak to are older, “Clark said.
He added that most are “at least 45” and in the 70’s and 80’s some people ask about “what I don’t know, random things, random coins” they are trying to add to retirement. rice field. portfolio.
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