In 2010, an article published in the Forbes magazine had found that over 75% of US citizens nearing retirement age had less than $USD30,000 in their retirement savings account. It was later called “the greatest retirement crisis in American history,” which influenced financial analysts to look for the reasons behind such drastic numbers. Analysts believe that 2008’s global recession was a major factor behind the low retirement savings. Poor savings, underperforming stock markets, and the lack of interests regarding retirement fired up the crisis, with median retirement account balance for near-retirement US citizens being only $14,500. The retirement saving accounts continue to be one of the least performing investment even today, when the world is sailing on yet another broken economic system. Investors around the world are losing portfolios to wavering dollar price, as well as to the ongoing oil crisis. Such poor fundamentals are driving investors from Individual Retirement Accounts, and choose Gold or Bitcoin as their alternative hedge against the US Dollar. Bitcoin, in particular, has gained impressive adoption over the years for its difference with the mainstream capital markets. The digital currency is considered independent, for its minting is carried out by network participants not by centralized authorities. The process evidently makes Bitcoin an impossible-to-manipulate currency which is just the thing investors are looking for these days — at least a Californian startup sees it this way. Bitcoin IRA , a new company operating from California’s Sherman Oaks, has been launched with an aim to make Bitcoin a hedge for IRA or 401(b) accounts. It believes that the digital currency, unlike the dollar and Gold, offers a speculative and dramatic upward potential to investors. “Gold,” states Bitcoin IRA, “has a negative correlation to the dollar, and can provide an effective safe haven when the dollar slides […]
