I am looking into setting up a Roth IRA funded with bitcoin, as the gains are tax-free. One of the options I have seen is to do a “self-directed IRA” where you set up an LLC as the owner of the account. I’m still working on understanding this better. Any suggestions?
Here's a fairly recent article that walks through the process:
https://www.forbes.com/sites/forbesfinancecouncil/2017/12/15/bitcoin-ira-investing-three-crucial-first-steps/#7230304739cbAn LLC may or may not be necessary depending on the IRA custodian. In a nutshell: transfer capital into an account at a self-directed IRA custodian, set up a wallet (may need to be held as an asset in your LLC which is held in your IRA), then invest the capital from your IRA and hold it in the wallet.
