The muddy legal wake of Prime Trust imploding should worry you if you keep Bitcoin in a self-directed IRA.
Even if you hold the keys in a multisig setup, how sure are you that the protections extended to securities will apply to your stack if the IRA firm goes belly-up? Will you be able to transfer to a new firm without tax penalties if the current one folds?
All that uncertainty paid for with high onboarding and maintenance fees. Hard pass.
boop39 / BOOP39
npub1gm…q8azd
2023-06-28 01:12:25
Author Public Key
npub1gmxfzakczzznlj8cnhynv5pmnzppsgz4ff5gy7y9m0pl85zywwrqcq8azdPublished at
2023-06-28 01:12:25Event JSON
{
"id": "eed8274fbaaac373054dd35d6837d42662802ebeca40aa4dd1148cf64520c4f3",
"pubkey": "46cc9176d810853fc8f89dc936503b98821820554a68827885dbc3f3d0447386",
"created_at": 1687914745,
"kind": 1,
"tags": [],
"content": "The muddy legal wake of Prime Trust imploding should worry you if you keep Bitcoin in a self-directed IRA.\n\nEven if you hold the keys in a multisig setup, how sure are you that the protections extended to securities will apply to your stack if the IRA firm goes belly-up? Will you be able to transfer to a new firm without tax penalties if the current one folds?\n\nAll that uncertainty paid for with high onboarding and maintenance fees. Hard pass.",
"sig": "d9b5968cd7986d27dab3cdde7150ae1169484e74e1e2383a2a3207b74656cb2d35c5aac524d32eb653275e6acba2d8169327ea1bcdb5961c3e894101550eb719"
}