Former Republican Congressman and US presidential candidate, Ron Paul, was hired as an endorser of Bitcoin-based retirement instruments. In his endorsement for the cryptocurrency firm, which is a subsidiary of Goldco, Paul touted to Americans the benefits of entrusting their savings to the Bitcoin-based retirement account provider.

In a video that accompanied an article titled “Ron Paul Is Shilling for a Bitcoin Retirement Fund Exactly Where You’d Expect” that was published by Mashable as of mid-November 2017, Paul urged Americans to contact cryptocurrency company to know more about the various investment options that are based on Bitcoin.

Paul also claimed that he is excited about the various options that Bitcoin opens up in the retirement sector.

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

Other companies offering Bitcoin-based retirement account services

Aside from the promoted company, other firms are providing full services for Bitcoin-based retirement accounts. The companies provide assistance to their customers in purchasing Bitcoin and other cryptocurrencies through their individual retirement accounts (IRA) or 401Ks. These firms claim that digital IRAs allow Americans to invest in virtual currencies such as Ethereum and Bitcoin.

“Digital IRAs are unique retirement accounts that allow you to invest in digital currencies (also known as cryptocurrencies) like Bitcoin and Ethereum, in addition to the conventional assets that you utilize already.”

Such solutions are not new. In fact, one company previously shared that has raised over $2 mln within six months of its launch. As millennials tend to shy away from traditional investment options, many investors in their twenties actually prefer to diversify their investments despite the supposed risks.