- Bitcoin retirement accounts are currently soaring in profits amid the rising price of Bitcoin.
- Bitcoin retirement platform, Bitcoin IRA, has processed about $500 million since the company launched.
Since October, the digital currency market has gained a sizable amount of growth as cryptocurrencies rallied in price. Led by Bitcoin (BTC), many crypto-related products were also seen making significant moves across derivatives trading platforms. Additionally, Bitcoin retirement accounts are looking profitable, following the surges in the underlying asset, according to Bitcoin IRA, a digital currency retirement investment platform.
Bitcoin retirement accounts are on the rise
As per Bitcoin IRA on Tuesday, several accounts held with them have posted a significant increase since the rally kicked-off. People who registered a Bitcoin retirement account last year are currently up by more than 158 percent. The development is certainly not unusual as the cryptocurrency itself has grown by more than 150 percent since this year and over 5,000 percent in the last five years.
“The increase in the price of Bitcoin has benefited individual investors who added cryptocurrencies to their retirement accounts and as a result are seeing sizable gains in their portfolios relative to other investment assets,” said Bitcoin IRA.
Meanwhile, the company has processed more than $60 million in transactions from the Bitcoin retirement accounts since the start of the year. Overall, the Bitcoin IRA has made about $500 million in transactions since it debuted in the past four years. The growing interest in Bitcoin retirement accounts is evidence that people deem the cryptocurrency as a worthwhile asset to hold as they retire from their careers.
Company Bitcoin retirement plan
About four days ago, a United States digital currency investment adviser, DAiM, announced the launching of a company-tailored retirement plan that will see participating companies allocate at least 10 percent of the investment in the leading crypto, Bitcoin. The long-planned retirement plan will equally expose them to other traditional assets.