Re:Peter Thiel turned a Roth IRA into a $5B tax-free piggy bank
by machinebun on Thursday June 24, 2021 @05:39PM
(#27624136)
> purchased his founders’ shares in PayPal through his Roth IRA during PayPal’s formation."
> That's literally the market rate.
That's not a market rate, that's a price-fixed rate. A market rate involves actual buyer and seller transactions and an actual market (a couple of people shuffling stock amongst themselves does not a market make)
If he had put Bitcoin in there at $0.01 back when it was trading at $0.01 - that would be a market rate transaction (since there was a market for Bitcoin at the time). That would have been much less problematic than what actually happened (and there would be no "substantial control" problems either with the Bitcoin investment).
> That's literally the market rate.
That's not a market rate, that's a price-fixed rate. A market rate involves actual buyer and seller transactions and an actual market (a couple of people shuffling stock amongst themselves does not a market make)
If he had put Bitcoin in there at $0.01 back when it was trading at $0.01 - that would be a market rate transaction (since there was a market for Bitcoin at the time). That would have been much less problematic than what actually happened (and there would be no "substantial control" problems either with the Bitcoin investment).