Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

Some bitcoiners bristle at ETFs...not me.
Bought into a couple a few days ago (in Roth)...not taxable, haha.
A path: from some strange swedish bitcoin ETP (Bitcoin XBT tracker One or something like that) and straight into US-based.
An expensive tx (they REALLY fleece you), but it was up about 10X since 2020, so, no biggie.

I grabbed some too. I went with FBTC for the custody diversification. Also tossed it in a Roth IRA. Bitcoin is cool and holding your own is respectable, but long term Bitcoin gains without having to self custody or pay taxes on gains… That’s just too good to avoid for any reason. I’m up 25% already.

I use a roth as part of my emergency fund sources, I restacked the ratio's when the etf's came out, and have some allocated to ibit.

Its not well publicised but you can withdraw your roth contribtions without any penalty/tax so long as its only the contribution amount and not any profit.

Sounds a bit reckless to be using retirement funds as your "emergency funds."

Nah it’s not reckless definitely depends tho on your unique situation, if in maintenance mode it’s not reckless to consider taking out some cash contributions. The profit has compounded so much that it’s inconsequential almost to pull out a a few years worth of contribution.

I can definitely see self directed roths getting killed off there is way too many benefits in the current tax system to be tax efficient. People day trade in them, it’s ridiculous that there is no cap gains!

We shall see.
P. Thiel does not help with his Roth that was 5bil in 2021. Now? Who knows.
They will probably (if not already) would try to cap it at some large number, like 10mil.