Experts Warn Against Adding Bitcoin To Retirement Accounts

Ross advises people that decide to add crypto to their IRAs to be extra vigilant of their holdings.

  • According to crypto experts, it is too early to add cryptocurrencies to retirement accounts. 
  • Onramp Invest’s Tyrone Ross said crypto IRAs deny investors complete control over their assets. 
  • Ross advises people that decide to add crypto to their IRAs to be extra vigilant of their holdings.
  • CPA Ed Slott says the high volatility of cryptos is not ideal for anyone headed towards retirement.

The crypto market is trading sideways after recovering from the mid-May crash that saw most digital currencies shed approximately 50% of their value after setting new all-time highs. The recovery saw the crypto market cap breach $2 trillion for the first time in three months. However, this bullish momentum seems to have died down, bringing the capitalization to $1.92 trillion.

Due to the renewed rally, investors are once again looking to tap into the potential of digital assets such as Bitcoin (BTC), which surged as high as $47,998.10 before correcting downward to $45,428.35. However, both bearish and bullish crypto experts urge investors, especially those looking to add cryptocurrencies to their retirement accounts, to exercise caution. According to them, it is too early to store digital assets in retirement accounts.


One such expert is Tyrone Ross Jr., the CEO of Onramp Invest. While he admits to having multiple cryptocurrencies in his portfolio, Ross does not advocate adding cryptos to IRA accounts. According to him, such an investment approach is akin to removing a beautiful, exotic animal from its natural habitat and confining it in a zoo.

Ross believes that once people understand cryptocurrencies and all they can do with them, they will not dare put them in retirement accounts. He pointed out that the structure of retirement accounts would prevent individual investors from holding the private keys to their crypto holdings. As such, they would be purchasing and holding crypto without complete control over their funds.

While he claims that efforts to remove this limitation are underway, Ross believes multiple factors prevent experts from fully endorsing the addition of cryptos to retirement accounts. According to him, financial advisors that work with clients keen on adding crypto to their retirement accounts should ensure their customers are willing to bear the risks associated with such investments.

Apart from this, Ross believes it is vital for financial advisors to offer their clients regular updates, preferably monthly, regarding their investments.


For investors that decide to add crypto to their retirement plans through self-directed IRAs, Ross recommends exercising more vigilance. He added that the crypto market is active 24/7, 365. As such, investors cannot just leave their investments to chance like they would when dealing with regular assets.

Moreover, CPA Ed Slott, who is also the founder of Ed Slott and Co., believes self-directed IRAs are risky. He claims that such custodians let investors add anything legal in their accounts. However, they don’t offer clients advice on what is a good or bad investment. Slott also highlighted the inherent volatility of cryptocurrencies, saying the risk factor is too high for anyone approaching or is already in retirement. This is because they might not have enough time to recover if the coin in which they have invested crashes.

On The Flipside

  • While experts believe adding crypto to retirement accounts is risky, cryptocurrencies can diversify portfolios and protect investors against inflation.
  • Apart from this, the crypto market is relatively new, and the entrance of institutional investors might help the market mature and surge even higher.

Why You Should Care?

With everyone looking to live comfortably once they retire, it is key to identify assets that grow investments securely to prevent future frustrations.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Jinia Shawdagor

Jinia is a cryptocurrency and blockchain enthusiast based in Sweden. Since 2013, she has been contributing unique articles to different publications. She loves traveling and extracting joy and happiness from the little things in life.