Bitcoin Investment Trust: Non-Wealthy Need Not Apply
SecondMarket, a platform for investing in private assets, launched a fund called the Bitcoin Investment Trust (BIT) on Sept. 25. You can make bitcoin part of your retirement account by investing in it, but there’s a $25,000 minimum, lots of fees, and you need to be an accredited investor. This means you must earn more than $200,000 a year and own at least $1 million in assets, excluding your primary home.
BIT has actually amassed $51.1 million in assets and performed quite favorably since its inception, up $386%. Like all bitcoin- related investments lately, it has fallen 25% in the last month.
If you can swing this type of investment, advisors say stick to the minimum and make sure it doesn’t account for more than 2% of your total portfolio.