0 sats \ 3 replies \ @028559d218 18 Oct \ parent \ on: Michael Saylor: Why MicroStrategy’s Bitcoin funding is NOT a glitch bitcoin
If someone has money in a 401K, for example through their employer, and their employer's 401k plan expressly forbids the purchasing of the Bitcoin ETF... and they want Bitcoin price exposure what do they buy?
And even more generally, if someone has a 401K plan they cannot buy Bitcoin directly with it. Sure self-custody is always better for an individual, but for a 401K at least the ETF gives them a way to buy the asset and have institutional custody for it.
Everyone having money in any plan is a moron and they get what they fucking deserve.
Take your money out and buy BTC. That's it.
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Taking money out means taking a huge tax hit. A lot of people don't want to do that.
There are some collaborative custody plans, I believe unchained capital has one, where you can self-custody the asset in a 401K You have 2 keys Unchained has 1 that kind of thing. But the funds are not 'allowed' to move (they are monitored).
But it is only for 401Ks of former employers according to them and that's not practical for everyone.
For what it's worth I kinda agree with you 401Ks are kinda bs... however I'm playing the devil's advocate
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If you didn't figure it out until now how NOT to pay taxes, then you are lost anyways... It doesn't matter anymore.
Only slaves pay taxes.
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