Ryan Radloff, CEO of the Kingdom Trust custody solution, recently explained that a large number of Americans do not have Bitcoin (BTC) in their retirement accounts.
„There are 7.1 million Americans who have already taken the leap to buy Bitcoin or dive into our industry, so to speak, and have a retirement account, but they don’t have Bitcoin in their retirement account,“ Radloff told Morgan Creek Digital founder Anthony Pompliano in a July 18 interview.
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People have more to spend on Bitcoin than their retirement accounts
Retirement accounts allow the public to deposit money into a long-term investment fund, with the stipulation that they only take money from that account after a certain period of time, usually decades, depending on the age of the participants. Such a format comes with significant tax exemptions and incentives.
There are several solutions as gateways to Bitcoin retirement account purchases and investments, including a Kingdom Trust option. According to Radloff, people have capital available in their retirement accounts for BTC, but have not pulled the trigger to buy.
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„If you also look at people’s discretionary investment money, they typically have three to four times more discretionary investment money in their retirement accounts than in their non-retirement accounts,“ Radloff said.
Bitcoin means potential in retirement accounts
Bitcoin represents opportunities today, given the number of people in the industry, coinciding with the use of the retirement account, Radloff said.
„When I say this is the biggest opportunity for Bitcoin, especially in this kind of stock-to-flow model that we see, I’m seeing 7.1 million Bitcoiners who have three times as much money invested in their retirement accounts who are not using their retirement accounts to do HODL.
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Mentioning the billions of dollars at stake in the retirement market, Radloff also stressed the lack of a viable structure around the crypto and blockchain companies that offer 401k options to their employees.
Radloff’s comment on the opportunity refers to Bitcoin’s stock-to-flow ratio, made by Twitter’s crypto-currency analyst, PlanB. The model essentially explains the inevitable increase in Bitcoin’s price due to its declining mining reward payment and limited maximum supply.