Bitcoin is gaining a lot of popularity and there are people considering it as a retirement investment. How good is this?
It doesn’t sound bad but understand the volatility of Bitcoin. Also, I think it depends on when you start the retirement plan. If you start from an early age to put those savings in Bitcoin rather than the bank, first, your funds are completely yours, second, you can make some extra if Bitcoin price goes up. Continuously saving more and more over the years would be a good idea because Bitcoin has a trend of good growth. So even before the retirement, the savings could be doubled.
Makes sense, although bitcoin has potential, but we should not ignore its volatility. If we start planning for retirement now and use bitcoin instead of banks or other assets, it will be a great plan and we can even retire earlier than expected if bitcoin reach high prices. But it would be very risky if we are retired and use our retirement money to invest in bitcoin in the hope that it will bring us more profits. Bitcoin's volatility in the short term is very unpredictable and if it accidentally gets dumped, we will pay the price for that. Therefore, depending on the situation and time, we have appropriate choices.