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Coinpaper 2025-02-03 09:40:33

Parents Now Opt For Bitcoin Over Traditional 529 College Savings Plans

Parents Now Opt For Bitcoin Over Traditional 529 College Savings Plans

Bitcoin FOMO is hitting family finances. Parents are now looking to crypto, particularly Bitcoin, as a way to boost their kids’ future savings. Some decide to ditch traditional methods like 529 plans or brokerage accounts in pursuit of better returns in crypto, while others see Bitcoin as a smart way to diversify. With the BTC price surging over 500% since the last lows and moving past $105k – albeit with occasional dips, like the ongoing one – in January, families believe Bitcoin’s potential is only starting to manifest. Bloomberg brings up the case of Jim Crider, a certified financial planner. Based in San Antonio, the 35-year-old father of four plans to save one whole Bitcoin for each child by the time they turn 18. Crider is convinced BTC will hit $1 million in ten years. The man knows the risks but sees even more risk in having zero exposure to Bitcoin. More parents are following in Crider’s footsteps and taking even more chances. Travis Headley, a 43-year-old doctor from Louisiana, is shifting his kids’ 529 plan savings into Bitcoin. Headley believes the traditional approach won’t cut it for covering skyrocketing college costs, and his kids have enough time to recover if things go wrong. Alex Crognale, a professional soccer player, shares this sentiment. Disappointed by the returns of 529 accounts, he decided to opt for Bitcoin as a more flexible and promising asset. The rise of Bitcoin ETFs has brought new attention to crypto, following its recovery after several scandals. While most financial advisors don’t recommend going all-in, some suggest that small crypto investments could align with long-term financial strategies. For many, the math is pretty obvious. Rajat Soni, a Toronto-based financial analyst lays out the details for parents looking to shift from 529 to crypto. “Buying $10-$100 of Bitcoin per month over 18 years will set your kids up for an EXCELLENT life. It will MASSIVELY outperform the rest of the portfolio (especially REITs and index funds like VOO and SCHD) (...) At some point, 0.001 Bitcoin (100,000 Satoshis) will buy you what $100,000 buys you today,” he persuades. Some Bitcoin enthusiasts are going as far as to educate the youngest ones to ensure them a smoother entry into adulthood. Chris and Frieda Bobay, a crypto-loving couple from Nashville, created an illustrated kids’ book, Bitcoin for Kiddos, to teach their children, aged 4 and 7, about the new investment opportunities. They’ve already set up Bitcoin wallets for each of their little ones.

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