Chris Kline

So they wanted Ethereum, they wanted Litecoin, Solana, XRP, all the mix of bags.

So we have 85 now, even some of those meme coins that-

You know, well, one of the, I think, I don't know if it was the 85th, but one of the most recent additions early last year was the Trump coin.

It was Trump mania, the Trump coin mania that happened.

And there were people that said, okay, I'm going to put a couple thousand in that.

They saw the run.

And then as it started to pull off, they pulled back and then they reallocated that towards Bitcoin.

The reason why volatility is helpful in retirement accounts, especially the solo Ks I was talking about, or any traditional account you have,

The wealthy use these downturns for what's called a Roth conversion.

So when you put money in pre-tax, which is traditional or SEP, you're lowering your tax bill for the income and you're paying nominal income tax when you take it out when you're older because you're not making as much.

What a lot of folks will do right now, so Bitcoin runs from 126 all the way down to 66, 65,000.

They will take this moment in time and say, well, my portfolio is down 50%.

I can panic about the headlines or I can use this as strategy.

I'm going to go ahead and take my traditional IRA

I'm going to convert it to a Roth IRA right now because the value is half as much, which means my tax bill to convert will go down 50%.

So they take advantage of this moment in time.

And once they do that, as we go through the next run, because we all know it's going to be back at all time highs here in the next 12, 18, 24 months, then they're now in a Roth setting where they're never going to pay taxes on those funds ever again.

No penalty for conversion.

It's just you're now taking pre-tax money, turning into post-tax money.

So you're going to have whatever your income for the year is, whatever your nominal tax rate is for that amount.