Skip links

Leaving Vanguard after 5 years (Reddit Bitcoin)

After 5 years of using Vanguard, I processed a full withdrawal of my roth ira and transferred it to Fidelity an hour ago. I like Vanguard, I like the philosophy of Vanguard, but I do NOT like any bank, brokerage, or institution telling me what I can or can not do with my money.

Vanguard is not allowing its customers to buy Bitcoin ETFs. This is why I invest in Bitcoin. I don’t want an intermediary controlling what I do with my money. Their excuse is that Bitcoin ETF is volatile, so fucking what? I’m not an emotional investor, I’m very much aware of Bitcoin’s volatility and the risk I’m taking.

Vanguard, Merill Lynch, UBS, and all other brokerages preventing consumers from spending their money will learn that Bitcoin is inevitable. When they see the flow of assets out of their funds and they underperform the market, they will rush to allow Bitcoin ETFs, but when they do I’ll be long gone. I’m done with Vanguard because they’ve done something that is against my philosophical beliefs, they have prevented the free market from working efficiently. I am a customer who wants to spend MY money, they have no right to block me from doing that. Bitcoin will make intermediaries obsolete and I can’t wait!

I will always do what is best for me, and what’s best for me is having Bitcoin in a tax advantaged account. Fuck Vanguard for ignoring their customer desires!

submitted by /u/Buttcoinmodssuck
[link] [comments]

from RSS Cryptocurrency News feed

Leave a comment