2021 Was ‘Busiest Year by Far’ for Bitcoin IRAs, Interest in Ethereum & Altcoins Grows
With crypto gaining prominence as a mainstream investment vehicle, retirement savings in the form of IRA accounts holding digital assets is on the rise in the US. And according to industry insiders Cryptonews.com spoke with, companies offering crypto IRAs had their best year ever in 2021, despite strong volatility in bitcoin (BTC). Also, interest in altcoins is rising, they say.
“During the second wave of 2021, we noticed people were motivated to open an account over inflation concerns and the announcement of new monetary policy,” Chris Kline, Co-founder and Chief Operating Officer at Bitcoin IRA, said.
He added that macro events during the year have made many people interested in crypto as a hedge against inflation, and that some also want to invest in order to “be a part of the economic revolution.”
Asked if interest has dipped following the selloff seen in the crypto market over the past few months, Kline said they have “not at all” seen this. He added that although the firm had anticipated a slowdown in interest from investors, a record number of new accounts were opened in November and December last year.
“This increase was driven in large part by a bullish outlook in 2022 among crypto investors, and inflation concerns dominating news coverage,” Kline added, without providing any numbers.
Similarly, Jeremy Warner, a digital currency specialist at BitIRA, said 2021 was their “busiest year by far,” although he admitted that the past two months have not been as good as the year overall.
“It has definitely separated the tourists from the believers,” Warner said about interest from investors between November and January, also adding that many people seem to have learned “when to buy the dips.”
In terms of which digital assets
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