As the interest in bitcoin and cryptocurrencies grow, many who are aligned with the ideas of decentralization look to find more ways to popularize the concept. One of the people keen to promote bitcoin are Ron Paul… yes, Ron Paul promoting bitcoin. The ex politician who is popular for siding with libertarians, is extremely critical of some major issues including; The federal reserve system, the taxation policy, the war on drugs and surveillance programs.
“when one gets in bed with government, one must expect the diseases it spreads & setting a good example is a far better way to spread ideals than through force of arms.”
To no one’s surprise, Ron Paul is now featured in a 30 second infomercial and has gone on Fox News to promote a freshly minted retirement savings proposal to the older generation across the United States of America. His message is about none other than the financial wonders of bitcoin of course.
The former outspoken congressman is now touting Bitcoin on Fox News. He’s not just suggesting that one simply invest in bitcoin, nope, he’s talking about investing your excess funds into a “Bitcoin IRA”, because why simply invest when you can derive benefits by saving for retirement too?
Bitcoin- based retirement vehicles are growing in interest among the younger generations such as millennial’s and other groups and may also become a growing trend for baby boomers and older generations as well. The growth is only expected to increase with the promotion from people like representative Ron Paul.
Ron Paul Is Touting Bitcoin IRAs
As bitcoin reaches more constituents, it will eventually reach more of their respective leaders in congress. Some politicians have taken more interest than others and have realized that there are many benefits that can be gleaned from cryptocurrencies. One example would be Senator Rand Paul, who has ran for presidency in the past and opted to accept bitcoin contributions to his campaign. He also has similar views in regards to liberty and has stated things like “We must always embrace individual liberty and enforce the constitutional rights of all Americans-rich and poor, immigrant and native, black and white”.
The benefits of bitcoin and its’ various use cases has now spread to the father of Rand Paul, Ron Paul (R-Tx) who has also sought to become president in the past. Ron Paul has found his gains in bitcoin by being a spokesperson for talking about bitcoin based retirement accounts.
Congressman Ron Paul endorses Coin IRA, a subsidiary of Goldco. Coin IRA also offers investments in Bitcoin. Its website claims:
“A mere $200 investment in Bitcoin in 2011 would be worth well over $1 million USD today! That’s over 500,000% return in just a few years.
Bitcoin offers transactional speed and privacy, and most importantly, it is inflation resistant. Consequently, especially for millennials, Bitcoin, Ethereum, and other cryptocurrencies might soon become mainstream for funding retirement accounts.”
Bitcoin as an investment assetare beginning to entersthe market
We’re now seeing various investment types that are forming where bitcoin is the underlying asset, we’re seeing futures, derivatives, funds and other financial products that are entering the market en masse.
The premise being that bitcoin is another store of value. It’s value is increasing on regular basis and is now beating out the value of gold. Financial managers are taking notice and making certain to account for this new development in their product offerings.
One of the best features that they would want to sell their customers on is that bitcoin is immune to that pesky phenomenon called inflation. Bitcoin is inflation resistant. This and other aspects make it an alluring option for retirement investing.
There are a few companies who don’t want to be late to the game and have started offering their bitcoin based retirement products. Essentially, they provide assistance to their customers in buying btc and other cryptocurrencies using their traditional retirement accounts or 401k’s. Check out sites like BitvestIRA and Bitcoin IRA for more information.
What’s your thoughts on a bitcoin based pension fund?