According to CryptoPotato, the U.S. Internal Revenue Service (IRS) announced on November 1 that the annual investment limit for individual retirement accounts (IRAs) will be raised from $6,500 to $7,000 in 2024. At the same time, the annual investment limit for 401(k) plans will also be raised by $500 to $23,000. This means that retirement savers who invest in Bitcoin next year can invest an extra $500 in a self-managed Bitcoin IRA. Bitcoin IRA and 401(k) accounts offer tax benefits to investors. According to Forbes Advisor, Bitcoin IRA can provide investors with the tax advantages of traditional and Roth IRAs. The main advantage of IRA is that taxpayers can deduct the investment amount from their taxable income. In addition, some employers also offer Bitcoin 401(k) accounts, and if the employer allows and cooperates with pension funds that provide digital asset services, 401(k) savers can also choose to include Bitcoin in their 401(k) plans and get tax benefits.