On December 11, Bitcoin IRA COO Chris Kline spoke to i24 NEWS about Bitcoin futures, the explosion of Litecoin, the enduring power of cryptocurrencies, and where Bitcoin IRA fits in. Here are some of the highlights.
Bitcoin futures, or agreements between users to buy and sell cryptocurrency once it reaches a predetermined price at a future date, have officially hit the market. What does this mean for Bitcoin?
“Bitcoin futures are a pivotal point through this process because they bring more regulation, which is going to bring more mainstream adoption,” Kline said. But he reminded viewers that participating in Bitcoin futures contracts is not the same as owning actual Bitcoin.
“When you’re in a Futures contract you’re not in Bitcoin directly. You’re in more of a proxy representation,” Kline said. Furthermore, engaging in Futures trading it is not without risks: if the market tumbles, owning Futures would negate the hedge ability of the investment. And given the massive upward swing in Bitcoin’s trajectory in just 2017 alone, now is the time to be investing in the digital currency itself.
Is Bitcoin in a Bubble?
According to Kline, it depends on how you look at it. “There are people out there who are strictly in this for speculative gain, said Kline, before adding: “But then there are other groups out there that see this as a shift in monetary policy. They see that Bitcoin is not just a speculative asset and that it may start to augment or segment components of the fiat monetary policy we have today.”
Given the increasing adoption of Bitcoin nationwide, as well as acclaim for the blockchain technology that powers it, signs point to more people embracing cryptocurrency as a groundbreaking innovation that is here to stay.
Spotlight on Litecoin
As we head into 2018, Kline suggests taking a closer look at Litecoin. Often described as the “silver to Bitcoin gold,” Litecoin soared 50% on December 11 alone, and over 4000% so far in 2017. Litecoin has many favorable attributes: There are four times as many Litecoin in supply compared to Bitcoin, transaction time is faster, and the mining costs are a lot lower because it’s a more simplistic, efficient process. “Bitcoin is more of a store value, or Gold 2.0, while Litecoin is more of that exchange cryptocurrency that everyone is looking for,” Kline said.
Where Bitcoin IRA Fits In
Bitcoin IRA is the only Bitcoin-based retirement investment portfolio that allows people to invest in invest in six different cryptocurrencies (including Bitcoin, Litecoin, Ethereum, Ripple and others) into their IRA.
With Bitcoin projected to reach $100,000 by 2020 and Litecoin projected to reach $3,500 by 2020, now is the time to invest in cryptocurrency. Call us today at 1-877-936-7175 to set up your account and capitalize on this groundbreaking investment opportunity.