The price of the controversial digital currency bitcoin has increased in value this year by 760 percent, with three cryptocurrency and blockchain stocks more than doubling during 2017. The first IRS-compliant Bitcoin IRA launched in June of 2016, and blockchain technology is being explored by industry giants such as Fidelity and Prudential because of its potential to revolutionize the financial planning world.
But what, exactly, is bitcoin? Should your retirement plan be invested in cryptocurrency? And why are experts saying that blockchain is more revolutionary than the Internet? Whether you’re years away from retirement or already settled in to enjoy your golden years, the era of digital currency will likely have an impact on your future. Here is what you need to know about bitcoin, cryptocurrency, and blockchain technologies and how it may affect your retirement plan.