Can I buy a bitcoin or equivalent with available funds in my ROTH?

[Anonymous]

Or otherwise from my Fidelity brokerage account?

[Anonymous]

Yes, I have most of my BTC exposure sitting in FBTC at the moment (fidelity bitcoin ETF) in my Schwab account. You can use any brokerage or self directed IRA/roth IRA.

[Anonymous]

Yes. Don't empty the Roth. What is the money invested in right now? Are you adding the max for 2023 and 2024? Buy one of those ETFs inside your Roth.

[Anonymous]

Anonymous wrote:Yes. Don't empty the Roth. What is the money invested in right now? Are you adding the max for 2023 and 2024? Buy one of those ETFs inside your Roth.

I have about $80k in cash sitting in an $1M ROTH. Thought it would be not crazy to buy the equivalent of one bitcoin. Seems an easy way to do so inside Fidelity ROTH.

[Anonymous]

FBTC is the ticket symbol for Fidelity's bitcoin ETF.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Yes. Don't empty the Roth. What is the money invested in right now? Are you adding the max for 2023 and 2024? Buy one of those ETFs inside your Roth.

I have about $80k in cash sitting in an $1M ROTH. Thought it would be not crazy to buy the equivalent of one bitcoin. Seems an easy way to do so inside Fidelity ROTH.

Go for it. Good allocation.

[Anonymous]

-Buying BTC at $700

DCUM Boomers: “you’re insane”

-Buying BTC at $7000

DCUM Boomers: “you’re an idiot”

-Buying BTC at $70000

DCUM Boomers: “good allocation”

LOL gotta love the boomers!

[Anonymous]

Anonymous wrote:-Buying BTC at $700

DCUM Boomers: “you’re insane”

-Buying BTC at $7000

DCUM Boomers: “you’re an idiot”

-Buying BTC at $70000

DCUM Boomers: “good allocation”

LOL gotta love the boomers!

Yeah, my 70-year old Boomer parents are the worst of all. Had a pretty aggressive 80/20 mix in favor of stocks before COVID. Why? Because the market was rising and they experienced FOMO. In March 2020, stocks were tanking and it was the end of the world. Sold everything and went to cash, but not before losing 20% of their portfolio value. Stock market bounced back. They missed out. Finally when the DOW passed 4000, FOMO strikes again and they buy back in. But then they sell again when it dropped in 2022 below 3800. Now they are bitter, angry, 100% in cash, and (thanks to withdrawals and inflation) only have ⅔ of what they had in January 2020. I’m guessing they have 8 years of runway left in their retirement. And this is after they cut spending back big time. One roadtrip vacation a year. Eating out 2x a month max. No more bday or Christmas presents for the grandkids. Asking us to cut checks for thousands of dollars to give to them so they can still host every single family event. Pinging DH constantly to visit so he can perform all their household maintenance and repairs. Uggh.

[Anonymous]

I have FBTC in a taxable brokerage account at fidelity. Is that bad? I mean it’s rising like crazy and we’ll see what the halving does and wider acceptance, but am I going to incur taxes every year even if I don’t sell FBTC?

[Anonymous]

Anonymous wrote:-Buying BTC at $700

DCUM Boomers: “you’re insane”

-Buying BTC at $7000

DCUM Boomers: “you’re an idiot”

-Buying BTC at $70000

DCUM Boomers: “good allocation”

LOL gotta love the boomers!

Haha I noticed this too. Then once the halving happens, and the bear market ticks back in around late 2025, they’re gonna call it a scam and ripoff again.

[Anonymous]

Anonymous wrote:

Anonymous wrote:-Buying BTC at $700

DCUM Boomers: “you’re insane”

-Buying BTC at $7000

DCUM Boomers: “you’re an idiot”

-Buying BTC at $70000

DCUM Boomers: “good allocation”

LOL gotta love the boomers!

Yeah, my 70-year old Boomer parents are the worst of all. Had a pretty aggressive 80/20 mix in favor of stocks before COVID. Why? Because the market was rising and they experienced FOMO. In March 2020, stocks were tanking and it was the end of the world. Sold everything and went to cash, but not before losing 20% of their portfolio value. Stock market bounced back. They missed out. Finally when the DOW passed 4000, FOMO strikes again and they buy back in. But then they sell again when it dropped in 2022 below 3800. Now they are bitter, angry, 100% in cash, and (thanks to withdrawals and inflation) only have ⅔ of what they had in January 2020. I’m guessing they have 8 years of runway left in their retirement. And this is after they cut spending back big time. One roadtrip vacation a year. Eating out 2x a month max. No more bday or Christmas presents for the grandkids. Asking us to cut checks for thousands of dollars to give to them so they can still host every single family event. Pinging DH constantly to visit so he can perform all their household maintenance and repairs. Uggh.

Textbook example of why time in the market always beats timing the market.

[Anonymous]

Anonymous wrote:

Anonymous wrote:-Buying BTC at $700

DCUM Boomers: “you’re insane”

-Buying BTC at $7000

DCUM Boomers: “you’re an idiot”

-Buying BTC at $70000

DCUM Boomers: “good allocation”

LOL gotta love the boomers!

Haha I noticed this too. Then once the halving happens, and the bear market ticks back in around late 2025, they’re gonna call it a scam and ripoff again.

I'm not a DCUM Boomer, I'm an X. I did not know about bear market last time, but I took it like a champ. I got out losing $30k, but I had made a lot more with stocks. I learned my lesson and got back in last August. Made the money back and will see how it goes. You got to keep up with what's going on in the market. Staying in long term seems to be the best, but also taking profits at times.