Want to put bitcoin in your IRA? Why experts say you may want to rethink that

Want to put bitcoin in your IRA? Why experts say you may want to rethink that

The entire cryptocurrency market climbed to over the weekend for the first time since mid-May. Bitcoin, one of the more popular digital offerings, also surged to more than $48,000, though it has already lost some of those gains. If you're like many investors, you may be wondering how you can get in on the action. That could include your retirement savings vehicles, such as individual retirement accounts. But both bullish and bearish experts on cryptocurrencies say it's still too early to store those assets in retirement accounts. Tyrone Ross Jr., CEO of Onramp Invest, a provider of a cryptoasset integration platform for financial advisors, is one of them. That's despite admitting he owns a "whole lot" of cryptocurrencies in his own portfolio. Ross compares using cryptocurrencies in a retirement account to taking a beautiful, exotic animal outside of its natural habitat and putting it in a zoo. Instead, it should be free, open and borderless, he said. "As you start to understand it and all the things you can do with it, you would not put it in some of those accounts," Ross said. One reason: Because of how the accounts are structured, the average investor will not be able