Former US Republican Congressman Ron Paul is Endorsing Bitcoin Based Retirement Fund

"As a firm believer in currency competition, I’m excited to see the options that Bitcoin opens up," said Mr. Paul.

Former US Republican party congressman and presidential candidate Ron Paul is promoting a Bitcoin-based retirement fund called Coin IRA on Fox Business.

In the 30-second infomercial, Mr. Paul urges the audience to get the details about the digital currency by contacting Coin IRA. He also said that he is excited to see the options that Bitcoin will open.

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He stated: “As a firm believer in currency competition, I’m excited to see the options that Bitcoin opens up.”

The infomercial specifically targeted older Americans who usually prefer gold as an investment plan.

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Coin IRA is a subsidiary of a firm named Goldco. Goldco’s business is to provide retirement fund based on investments in gold. Coin IRA’s portfolio includes Bitcoin, Ethereum, Litecoin, and Ripple.

In late October, in an interview with The Street, a financial news organization, Mr. Paul stated his views on the latest blockchain technology and the numerous currencies based on it. He said that he is not an expert on the subject and does not support the technology and its legalization so far. But at the same time, he was against the US government’s increasing involvement in Bitcoin technology.

He stated: “There is too much surveillance already on how the currencies are transferred, [how] the reports have to be made by the exchanges to the IRS. If it is a really good deal and a good process rest assured the government will be looking at it very carefully…it makes me very nervous.”

He added: “If the people want it and want to use it, the government should stay out of it.”

 

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