If you were planning on using Bitcoin to retire, you might want to think again. Why? Well, because the SEC has recently warned against Cryptocurrency Retirement Funds.

Here’s why.

As people approach retirement, many are nervous about where they are sitting financially. For these reasons, people are turning to self-directed IRAs, which are savings accounts that allow for alternative investments.

When it comes to self-directed IRAs, typical investments include company stocks and precious metals. However, thanks to the crypto boom, virtual currencies have been added as an option.