One option for cold storage would be to use a cold hardware wallet such as a Coldcard. Opening an institutional account can be tricky. It follows the ideas set out in a whitepaper by the mysterious Satoshi Nakamoto, whose true identity has yet to be verified. In fact, the IRS considers Bitcoin to be property rather than currency, making it an investment similar to real estate, stocks, or bonds for tax purposes. Investopedia makes no representations or warranties as to the accuracy or timeliness of the information contained herein. Unlike IRAs, self-directed k s do not require a third party custodian.