Are you looking to bolster your retirement portfolio? Or, are you afraid that the Federal Reserve is devaluing the dollar by printing too much money? They’ve printed $6 trillion in the past two years. This is on top of tens of trillions of dollars of accumulated debt already on the balance sheet.
So many investors are afraid of the future and I can’t blame them one bit. With the coronavirus pandemic, political infighting all around the world, and a global economy in shambles – it’s scary right now.
You have to take the necessary steps to protect your financial well-being. One brilliant step is to move away from the US dollar. You can invest in gold and other precious metals to limit your exposure. But there might be a better way by investing in cryptocurrency for the long term.
Why is cryptocurrency investing essential?
That’s the question I intend to answer today in greater detail. Because believe it or not, this investment strategy isn’t going away anytime soon. Cryptocurrency is the hottest investment on the market right now. And massive corporations, banks, and big investors are all on board.
Are you willing to get left behind? I hope not because this opportunity is huge and the long-term prospects are even better.
The Price of Bitcoin and Other Cryptocurrencies are Going Through the Roof
Unless you’ve been asleep for the past decade, you’ve noticed the Bitcoin craze sweeping the world. So many average men and women became millionaires because of this lucrative investment.
And they were smart, because the prices were soaring to new heights each and every day. And they continue to make big investment returns.
After temporarily pulling back to below $50,000 per Bitcoin, this amazing investment is on the move once again. It’s currently trading for $55,700 at the moment. But these prices tend to fluctuate and take wide swings throughout the day. In fact, when Bitcoin opened it was trading for $57,400, which is a big difference.
But here’s the important thing about long-term investing.
At this time last year, Bitcoin was trading for 95.54% less than it’s currently trading for right now. So, in the span of a year, the price has nearly doubled.
How huge is that? You aren’t going to find too many investments making gigantic returns on this scale.
Let’s look at Ethereum as another, much better example.
At this time last year, Ethereum was trading for $206.16. Guess what? It’s currently trading for a much higher price.
How much higher, you wonder?
The current up-to-the-minute price is $3466.37! This is a massive return to make within the span of a year.
How much different? It’s actually 377.92% return on your investment.
Say you bought 50 Ethereum last year for $200 a pop. You’d have invested $10,000 to make the purchase.
Today, those same Ethers are worth $173,318.50! That’s life changing money my friends. And these returns happen every day in the cryptocurrency market.
Personally, I endorse a more long-term strategy through opening a cryptocurrency IRA. I recommend reading my top 3 review of the best cryptocurrency companies in business right now. You’ll gain knowledge and insight to help you choose the perfect broker to meet your needs.
Major Institutions Are Investing Heavily in Cryptocurrencies
One of the best things that happened to cryptocurrencies is banks and other big investors entered this market. Some would prefer that cryptocurrencies like Bitcoin, Litecoin, and Ripple remain independent from major corporate sponsorship. But in truth, this added attention and investment capital will make cryptocurrency prices continue to soar.
Institutional investments in Bitcoin and other cryptos is here to stay. Major corporations, banks, and 1st world countries are plowing money into this lucrative investment vehicle.
ARK Invest’s Cathie Wood has the right vision for cryptocurrencies. She believes they are the ideal bond replacement. And she also believes that the price of Bitcoin isn’t even close to achieving its full potential.
Cathie thinks if major global corporations and banks invest 10% of cash into Bitcoin, it potentially reaches $250,000 B/TC. How sick is that? Suddenly, Bitcoin doesn’t look too expensive at $55,000 like some investors believe.
The upside potential is tremendous. And the current trend says Bitcoin could reach these heights in the near future.
So, what are you waiting for?
Find out more about Bitcoin IRA long term investing. Read my review of the best 3 crypto companies working in the IRA space. See how they stack up against one another. Use this info to choose the ideal company to represent your interests.
Recent Large Scale Bitcoin Investments
- MicroStrategy owns 71,079 BTC worth nearly $4 billion dollars.
- Tesla invested $1.5 billion in Bitcoin in Q4 2020.
- Galaxy Digital Holding owns 16,402 BTC worth more than $913 million dollars.
- Grayscale Bitcoin Trust has a market cap of more than $31 billion dollars.
- CoinShares manages 69,730 BTC worth more than $3.8 billion dollars.
And the list goes on and on.
Honestly, so many big players are jumping on board this trend that’s it’s becoming hard to keep track of them all.
The Rich and Famous Also Invest Heavily in Cryptocurrencies like Bitcoin
It doesn’t matter if you like or dislike celebrities. They have lots of money and people with money tend to find ways to make even more money. That’s why they say the rich get richer and the poor stay poorer.
But it doesn’t have to be this way.
You can take their cue and follow in the footsteps of intelligent celebrities who have learned to invest wisely. Many big names own big-money cryptocurrencies in large dollar amounts.
Some of the most popular celebrities and famous people investing in crypto include the following:
- Donald Glover
- Drew Carey
- Bill Gates
- Qwest Paltrow
- Ashton Kutcher
- Roseanne Barr
- Mel B
- Jamie Foxx
- Floyd Mayweather Jr.
- and many more
Guess what? You may wonder why celebrity involvement is good for long-term investing. Well, these wealthy people are willing to put their hard-earned money in this investment. It proves that cryptocurrencies are a solid investment for your long-term future.
And speaking of long-term future…
The best way to make a long-term investment in cryptocurrencies is to open a Bitcoin IRA. I’ve reviewed the top 3 Bitcoin IRA companies in great detail. I highly recommend reading the review to learn more about these companies and find out what they have to offer.
Cryptocurrency IRA Tax Breaks
Long-term cryptocurrency investing is the latest trend and it makes a lot of sense based on everything I’ve shared with you today. Believe it or not, there’s a right way and a wrong way to invest for the long term with this strategy.
In my humble opinion, the wrong way to buy cryptocurrency is to buy it outside of a Bitcoin IRA. You will not get to take advantage of the huge tax breaks made available to you if you invest using this strategy.
On the other hand:
By opening a cryptocurrency IRA, you become eligible to save a lot of money and cash in on big tax benefits. These benefits are so huge that your portfolio will grow very quickly from a percentage standpoint because of them.
What are the biggest tax benefits and breaks? They include:
- Experience tax-free investing with a Roth cryptocurrency IRA. This investing strategy means all of your taxes are paid ahead of time. So, whenever you deposit money in this account for investing, it’s with post-tax dollars. So, everything that you accumulate in this account is yours to keep. The IRS does not tax people twice for the same investment. This means the money you earn in this investment account cannot get taxed again. You can begin taking it at 59 ½ years old through distributions.
- Experience tax-deferred investing with a traditional cryptocurrency IRA. Everything deposited into this account is tax-deferred, meaning you did not pay taxes on this income ahead of time. By opening a tax-deferred account, you aren’t required to pay taxes until you take distributions. Ideally, you will not begin taking distributions until 59 ½ years old which is the designated age. If you take distributions early, you are responsible to pay for taxes and you also pay a 10% penalty. I do not recommend withdrawing from this account early unless you’re willing to face the consequences.
- Lower your yearly tax burden. If you open a tax-deferred traditional account, you lower your yearly tax burden by the legal amount you can invest in this account each year. Currently, that amount is $6000. So, if you make $60,000 and deposit $6000 in this account, you’ll only pay taxes on $54,000. Pretty neat, right?
By now, I’m sure you fully grasp the value of long-term cryptocurrency investing in a Bitcoin IRA. Between the popularity of cryptocurrencies and the massive tax breaks offered by IRA accounts, you can’t lose.
Learn more about the top 3 cryptocurrency IRA companies in business right now. Read my full review to get a better understanding of each one of these companies.