Gambling with your retirement money to buy bitcoin: it makes the most tax sense
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Fidelity will allow 401(k) participants to buy Bitcoin with retirement money. Bitcoin is a digital currency created by a computer process known as blockchain. It's not clear what a cryptocurrency should be worth and its value fluctuates wildly. Bitcoin has produced high rates of return in its short history. However, it's hard to recommend for long-term buy-and-hold retirement savers. The returns are driven by the rising demand for Bitcoin. bitcoin has been riskier than the S&P 500 SPX. for the recent past. J.P Sears is an advocate of Bitcoin and he doesn't agree with its use in retirement planning.
Andrew Biggs is a senior fellow at the American Enterprise Institute. He thinks gambling with retirement money to buy bitcoin makes the most tax sense.
