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Is this a swipe at cryptocurrency investments in IRAs? It appears to be fairly directly targetted at buying pre-IPO startup stock within an IRA, which is a pra
by patio11 5y ago
Is this a swipe at cryptocurrency investments in IRAs?
It appears to be fairly directly targetted at buying pre-IPO startup stock within an IRA, which is a practice that has lead to many extremely large IRAs within the Silicon Valley ecosystem as startups have the capability to appreciate far more quickly than publicly available securities and at least some purchasers may have acquired stock at a price which was not exactly the true (but entirely notional) market value.
> legislation prohibits further contributions
Meaningless since if you have >$10M in an IRA then you don't care about your annual $6k or whatever contribution.