I found an old IRA account of mine that I completely forgot about. I want to convert it to Bitcoin but don't want to lose its tax advantaged status. Anyone know the best places to move the money? I know fidelity offers bitcoin but... I'm not certain it's not just paper bitcoin. Is there a better solution at the moment? Rather not go the GBTC route.
Or maybe it's worth taking the tax hit and just convert to self custody bitcoin...
Is this where unchained capital would work? I don't know their specific solutions but they might have one for this scenario
I'll take a look. Thanks!
Swan offers IRA conversion. 1% transfer fee. $20 month maintenance fee for sub $100k accounts. It will keep its tax preferred status.
All Depends upon how much you trust “prime trust.”
Unchained capital offers a service as well, but it’s questionable if the self custody model really holds up to government scrutiny.
Or buy up some MSTR if you can handle the Volatility.
The wrong answer is GBTC :)
Do you want Fidelity holding your stack of paper KYC Bitcoin for 40 years, and do you trust the government not to change their tax policies on BTC or IRA’s between today and 2060?
Get that Bitcoin, and hold your own keys. Take the hit. This is totally financial advice.
Yeah. Just looking at all the options. Everything else just seems crazytown so far...
