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Fidelity now allows clients to put bitcoins in IRAs


Fidelity now allows clients to put bitcoins in IRAs The Tell MarketWatch

Source: http://blogs.marketwatch.com/thetell/201...

Fidelity has partnered with SecondMarket’s Bitcoin Investment Trust to allow its clients to save for their retirement by putting the virtual currency in self-directed IRAs.

“If you are a Fidelity client, you can now invest in the Bitcoin Investment Trust through an IRA,” said Barry Silbert, chief executive of SecondMarket

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THIS is crazy.

Crazy.

"“If you are a Fidelity client, you can now invest in the Bitcoin Investment Trust through an IRA,” said Barry Silbert, chief executive of SecondMarket, in an interview.

The Bitcoin Investment Trust is an open-ended trust that launched in late September and only invests in the virtual currency. The trust, which is only open to accredited investors, had $62.6 million in assets under management as of Tuesday."

So 20 years from now, when you want to pull money out of your retirement account, will they let you take cash? or bitcoins?  To me it shows some desperation on Fidelity's part, this does not put them in a good light.

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