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The traditional way of saving for college could be coming to a halt in some households as some families are embracing Bitcoin.
According to Bloomberg, some families are investing in cryptocurrency to build wealth for their children despite the risks and volatility.
For their reasons, some have stated the stock gains aren’t good enough, while others “view it as reasonable diversification.”
Some others are reported to believe the Bitcoin climb has only just begun, with the coin surpassing the $100,000 mark for the first time in December 2024.
Within the report, a 35-year-old father of four from San Antonio, named Jim, is said to want “each of his kids to have one whole Bitcoin saved by the time they turn 18.” The children are currently one, four, five, and seven years old.
The dad, who is a certified financial planner, states he knows the risks involved but he believes the asset will reach $1 million in a decade. “I think it’s incredibly risky to have 0% exposure to Bitcoin,” said the father.
Another dad, a 43-year-old physician based in Louisiana, has gone all-in on digital assets as he’s using it to save for his kids’ college funds. After saving in tax-advantaged 529 plans for ten years, he has now pulled the money out (and took the tax penalty) to put it into Bitcoin.
Bitcoin is becoming a go-to for a college fund for a number of families in the US
Another father, who was quoted in Bloomberg, has explained how when his daughter was born last year, he knew he wanted to help with her financial future.
“The math is pretty clear to me that following the herd and doing this 529 plan will not put my child in the most opportunistic position in the future,” he said to the publisher.
While Bitcoin has seen success with its new benchmark in December, its future remains relatively unknown – like with all other investment strategies.
There was a lot of talk by President Trump about making the US the global crypto capital, with the industry keeping all eyes on the new government to see what their next steps will be.
Featured Image: AI-generated via Ideogram
