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98% of retirement accounts in the US can’t access Bitcoin. That’s $36,800,000,000,000 What happens when they do?

Read this, this morning from Dan Held and it gave me the boost I needed for further investment right now ! 🚀

EDIT: with poss analysis!
https://mobile.twitter.com/invest_answers/status/1446188349123792904



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33 Comments

  1. They will think they can once this disgusting bitcoin futures etf comes out. But then, one day they will sadly realize they threw their whole life-savings on absolutely worthless cowshit.

    Sorry in advance, people.

    And now to the smart guys upon you:

    *Buy real bitcoin and make sure to exclusively own the keys.*

  2. Right now it looks like Gensler will only approve Bitcoin ETFs that track the price based on futures contracts, and will not approve ETFs that actually buy and hold Bitcoin.

    This is probably designed so that the ETFs won’t cause everyone hodling BTC right now, who weren’t early adopters, to get rich af and current whale to become trillionaires?

  3. 4 years ago i had a 401k meeting and asked the rep giving the presentation if bitcoin would be considered. He said it wasnt in the pipeline. I think most of these big financial companies will offer a btc etf but not the asset itself.

  4. Individuals should **buy actual Bitcoins** (not alt-coins, GBTC, ETFs, paypal, robinhood, etc), then send their Bitcoins to their own (hardware) wallets.

    “*Not your keys, not your Bitcoins*.” — Antonopoulos

  5. People do realize that most boomers, particularly men, who are likely the only boomers that would have interest in bitcoin have one foot on the grave, the other on a banana peel? War babies are pretty much boomers as well, and counting them the average boomer is 70 plus.

  6. WHEN Bitcoin becomes easily available to everyone It’s going skyhigh.

    IF BTC captureS only 5% of all global wealth, that’s 2milli a coin. Pension funds and ppls investment and retirement accounts could easily allocate 5% of their portfolios. Shit even 2.5% would be 1 million smackeroos.

  7. Btc etf won’t do shit to price . And since it’s futures backed it will prob be a net negative initially . Too many ways for stock only funds and 401ks to get exposure already .

  8. Most older millennials, who are now in their 40s or close to it aren’t touching bitcoin, maybe in a generation or two this will matter. Not hating, but a sea change will take a very long time.

  9. Realize that if $1 trillion actual funds come in from elsewhere, the total market cap will go up by much more – not just by a trillion.

    Now think about what it would mean…

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  11. If you are reading this right now you need to see my analysis / concern about what Congress is trying to do by way of the Neal Amendment.

    I posted it initially in another sub so I’ll just [np link to that post here](https://np.reddit.com/r/Superstonk/comments/q33vj3/something_is_happening_here_a_curious_amendment/).

    As you can see by reading up on the Neal Amendment issues, Congress is coming after IRA holders. From a first glance it “sort of just looks like” people who would be holding certain securities and those taking advantage of certain conversions to Roth, but in reality this could easily be a problem not only for “certain private placements” but with a few tweaks of language, Congress (in its currently extremely unfriendly-to-crypto condition) could in fact eventually (if not this year) decide to disallow people from self-managing their IRA LLCs (in other words, could end up prohibiting the self-directed custodian which many people actually enjoy, who are not in fact millionaires at all, but hope to use simple strategies of accumulation and saving (dollars into IRA, changing the dollars in the IRA into bitcoin, etc, so that they can one day retire). If Congress does ultimately decide to terminate the self-directed custodian option effectively it would be to force the income people hope to realize in the future into tax revenue in the present, which essentially stalls and kills the ability of people to make independent strategy.

    “But,” you say, “Congress hasn’t done that yet.” But actually, they have, as another part of the Neal Amendment, where they propose caps on IRAs, which suggests (regardless of the cap amount) that you won’t be allowed to make more than a certain quantity if you’re smart and have a good strategy. Why should the government be allowed to tell you that you can’t make money beyond a certain amount if you’ve been smart? (And it would not be too far a leap from there for the federal government to just disallow self-directed custodian option for cryptocurrencies in IRA / IRA LLCs, which would prompt court battles, which I think the crypto community would probably win, but that would take years, and who has time for that?) **This whole stupid “infrastructure” thing is the worst, most communist proposal I’ve ever seen in my entire life**; in fact, the “infrastructure” bill(s) would raise our overall individual and corporate taxation to a level higher than is experienced in communist China. The “infrastructure” bills would, in fact, create a higher level of poverty in the U.S. and around the world, as I’ve proven conclusively through data in my past posts and comments on that issue, in different subreddits.

    But back to the Neal Amendment. There are a lot of serious problems that the Neal Amendment would pose for people who want to try to carry out their own strategies using IRAs, 401ks, etc. Dan Held recently made a post about Bitcoin IRAs: [https://www.theheldreport.com/p/how-to-pay-0-taxes-on-your-bitcoin](https://www.theheldreport.com/p/how-to-pay-0-taxes-on-your-bitcoin)

    His post was pretty good, and I’ve been talking about this issue for years, both to colleagues / friends / family, when the opportunity arises on reddit, and also when it was logical to do so at work as part of strategy suggestions. Most people are definitely not multimillionaires or billionaires (and won’t be) though if crypto continues to increase in value (which it will), the number of people who hold even a small amount of it could end up being “small millionaires” e.g. making a million or two (or maybe more) before they retire. This is hugely upsetting to the U.S. government which sees the dollar decline and decline as they print more and more money furiously and seemingly they cannot understand the correlation / causation relationship between how it is that when you have a currency system where you essentially are creating unlimited supply of dollars, the value goes downhill, and you have mentally unstable people running the legislative system and executive branches of government, not to mention in the Fed, then they furiously do the same thing over and over hoping it will be different and it’s not. Oh well, that’s history I guess. It repeats itself.

    Anyway, what was I going to say. [I have a brief commentary on this here](https://np.reddit.com/r/Bitcoin/comments/pyjm5k/comment/hevzu3p/?utm_source=share&utm_medium=web2x&context=3), relating specifically to Held’s substack post on IRAs, along with some thoughts for how to prepare for inheritance, etc. And there are also special considerations to make if you are in California, now that [AB 1402 has become law](https://np.reddit.com/r/CryptoCurrency/comments/pzqc3t/the_sneak_bans_cometh_as_people_focused_on_us/) – link here –> [for those trying to get their assets (legally and safely) out of institutions incorporated in California, using exemptions available in California law](https://np.reddit.com/r/Bitcoin/comments/ntmzwu/there_are_potentially_huge_us_tax_and_reporting/h0u1gq7/).

    OK, so tl;dr: Congress and the Fed do not deserve another dime from the American public, the Neal Amendment needs to die in a dumpster fire, just like the Portman language trash, and the entirety of the “infrastructure” bill(s), too.

What do you think?

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