Once Bitcoin Halves, COO of Bitcoin IRA Aims to Reach $1 Billion in Investments
Bitcoin IRA established itself as the first company that makes it possible for consumers to pad their retirement accounts with Bitcoin. Considering the activity in the market today, a recent interview reveals that the COO hopes to have over $1 billion in investments after the halvening. Presently, there’s already $350 million in investments with the company.
Capitalizing on the halving, COO Chris Kline has planned for the new products from Bitcoin IRA to be rolled out at the same time as the launch of Libra and the halvening event. With these factors, achieving their target amount should be fairly straightforward.
Presently, the top altcoins and Bitcoin are the only options for consumers that want to invest in cryptocurrency in their retirement accounts with Bitcoin IRA. Kline explained in his interview that the company is keeping a “conservative approach” on adding other digital assets, considering the many scams that presently exist in the industry still. He added, “We don’t want to offer smaller coins that may later be determined to be a scam, lose liquidity, or have significant concerns by government regulators in the future.”
While the many altcoins on the market have left Kline feeling doubtful of their legitimacy, the same is not said regarding Libra. Instead, Kline believes that the Facebook-created asset “will be a major disruptor to global commerce,” even if regulators still need to vet it right now. He pointed out how Facebook has over two billion users, which exposes more of the public to the cryptocurrency ecosystem. He added that it is “[v]ery likely” that Bitcoin IRA will end up offering it to their customers.
At the end of last month, as Bitcoin IRA established a partnership with Genesis Capital, the former decided to offer interest to consumers with digital assets in their holdings. Over the next two years, Kline stated in his interview that there is “a long roadmap of projects that focus on our core mission of helping Americans retire early.”
Bitcoin’s halving happens every 210,000 blocks, which is about a four-year period. After each of these sets, the reward for miners is cut by half, giving the protocol its name. The last halving occurred in June 2016, and the next halving is projected to happen around the same time of year in 2020.
Bitcoin IRA made history when it began allowing consumers to contribute to their retirement portfolios with Bitcoin. Now, with the upcoming halving, the COO expresses their desire to capitalize on the crypto activity, pushing their investment holdings to new heights.
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