As Bitcoin’s Price Surges, Affluent Investors Start to Take a Look

https://nyti.ms/2Za4LfD points form the article: - As Bitcoin’s
Price Surges, Affluent Investors Start to Take a Look -
Cryptocurrencies, originally a way to conduct business outside the
financial system, are increasingly seen as an asset akin to private
equity or venture capital. - price of a single Bitcoin has gone
from zero to over $30,000 in that time. - ramifications of
including Bitcoin and other cryptocurrencies in portfolios as well
as trusts, - investors comfort are the custody and other
back-office financial services that lower the risk of the
currencies being lost or stolen. - cryptocurrencies are, in some
ways, more like old-time bearer bonds - 20 percent of the 18.5
million Bitcoin in existence have apparently lost their keys -
still look at it as a venture style of investing,” Mr. Willian
said. - treat digital assets the same as other investments in their
portfolio. That will allow them to pay whatever tax they owe but
also to make plans for gifts and bequests to heirs through an
estate plan. - combines humans and algorithms to securely move
cryptocurrencies from “cold” storage, when the device holding the
keys is not connected to the internet, to “hot” storage, where the
Bitcoin is connected to the internet - prudently managing the asset
itself, given its volatility, in the context of other assets in the
trust. - Jurisdiction over disputes rests with the location of the
property, not where the trust was set up. - Internal Revenue
Service Form 1040, filers are asked if they bought or sold any
virtual currency that year.Disclaimer: This communication is for
information purposes only not an investment recommendation.