The Hail Mary Retirement Plan

In the spring of 2017, Kenneth M., a physician in his mid-50s, was looking for the right medicine to rejuvenate his retirement savings. Drawn to technology, he found himself watching YouTube videos of entrepreneurs discussing cryptocurrencies and their real-world applications. The underlying concept of a blockchain -- a technical infrastructure over which information can move quickly, cheaply and securely -- made his eyes widen. He was familiar with the barriers that prevent electronic health records from moving smoothly between health care providers, and he became excited by the problems blockchain might solve. The doctor liked the idea of investing in virtual currencies in a retirement account, because using an IRA meant he wouldn't have to worry about the tax implications of buying or selling within the account. Through a Google search, he discovered Bitcoin IRA, a three-year-old company that partners with an IRA custodian and a cryptocurrency wallet-like a bank account for virtual currencies -- to let people invest.