Bitcoin IRA is a novel use-case of Bitcoin. The digital currency is recognized by IRS as an asset, eligible for taxes and also as a financial instrument for investment. Bitcoin IRA has created the first Bitcoin-based IRA, allowing people to invest in their retirement funds with Bitcoin.
One of the main personalities behind Bitcoin IRA is none other than Edmund C Moy, the 38th Director of US Mint. An entrepreneur by blood, he has held few envious positions in the US Government due to his involvement with the creation of the Department of Homeland Security and as a Special Assistant to the President of United States during the administration of George W Bush.
During his tenure as the Director of US Mint, his business acumen and entrepreneurial spirit saw the US Treasury General Fund gain a surplus of $1 billion. He was also responsible for navigating the US Mint through the great recession which almost brought the United States financial sector to its knees.
Edmund C Moy with his stellar career in the government and vast experience in the private sector is instrumental in the creation of Bitcoin IRA. He has always been a staunch supporter of Bitcoin and everything it stands for.
Since 2011, Edmund C Moy has been doing what he does best in the private sector. He has served on the board of multiple companies before serving as the Chief Strategist of Fortress Gold Group, a company that offers IRAs in physical gold. Edmund is also the Chief Strategist and Advisor at Bitcoin IRA.
Edmund referring to Bitcoin says,
“[Bitcoin is a] …technological leap that puts the creation of money and the determination of its value back into the hands of individuals and the private sector…. The free market determines the value of a bitcoin through competition not by government fiat.”
He has also acted upon his beliefs by becoming the first person to invest in a Bitcoin-based IRA though Bitcoin IRA. The digital currency based IRA has received a lot of interest since then. Bitcoin IRA has already created IRA accounts worth more than half a million dollars since it started its operations a few months ago.
Bitcoin IRA has the potential to offer the best returns on investment, all tax-free compared to any other conventional IRA based investments.