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Investing in crypto currency is akin to gambling. It is a commodity that is valued on a continually changing basis determined solely by other crypto currency investors. The only justifiable reason (if you can call it that) to own crypto currencies is its usefulness in money laundering. Why Indiana officials want to legitimize it is truly mind boggling.
It’s been around for 15 years now and the only practical uses are extortion, graft, and illegal activities. Almost nobody uses it on a regular basis for legitimate reasons.
I don’t know how, but I predict crypto will be at the center of some future financial crisis, and the way this Administration is going, it will hit the whole US economy.
And here is how it’s going to happen. From the NY Times:
https://www.nytimes.com/2026/03/08/business/stablecoins-crypto-treasuries-risks.html?unlocked_article_code=1.UVA.9ALC.jFhRv-pe4eih&smid=nytcore-ios-share
This is a horrible idea. I’m sure some readers or your friends have anecdotal stories about making money in crypto, but it is an extremely risk investment that has no place in a retirement portfolio except perhaps 2% +/- with a sophisticated investor who doesn’t mind losing all of that money.
90% of workers in a 401k have ZERO business even being offered the option of parking some of the retirement funds in crypto.
I was an auditor at a Big 4 firm and in the summer, we audited retirement plans. A large majority of employees moved money every quarter from their investment options that were lackluster or down into whichever fund did the best. Classic “buy high/ sell low”.
Plenty of studies have shown moving from: (1) “defined-benefit” pension plans where the employer promised you a certain monthly benefit based on your length of service and average salary over the last 10 years or whatever – and for which the employer put their own money into the pot and bore the risks of not having enough in there, to (2) “defined-contribution” plans where it’s the employees’ salary deferrals that fund the accounts; was a terrible deal for employees.
Lo these many years on, and I’d say about 50%-75% of employees are terrible at deciding how much to set aside and especially which options to invest in. It’s no wonder so many are completely ill-prepared to retire since they don’t have enough money set aside.
I got a financial advisor more than 35 years ago for that very reason, I had almost no idea what I should have been doing when all of retirement options went from a defined benefit to 401Ks. We did very well and I retired at 57, but never did I did pure stupid speculation.
Good for you, Dan. You took a wise route.