Moving a Company 401(k) due to Coronavirus Layoff

[Kyle J. Cooper]

So I'm sure I'm not the only one here that is curious about this topic, but here goes nothing! I'll make it short and (relatively)sweet!

Coronavirus hit the world, no one was prepared.

Companies started closing down.

Pay starts to get cut, and then the layoffs happen.

This happened to me recently and I'm curious what to do with this 401(k). The way I see it, I have a few options.

1.) Keep the funds with my past employer continuing to enjoy the unfortunately less than exciting gains from an actively managed fund(not likely I'll take this option)

2.) Rollover this account into an IRA where I can control where that money is invested moving forward

3.) Cash out, take the early withdrawal fee, tax hit, etc etc and go buy more Bitcoin(highly unlikely to choose this option, but I'm sure plenty of people have done this ha ha).

-Is there any way I could access these funds to use toward a down payment for an investment property, without all the negative side-effects of early withdrawal and heavy taxation?

Anyone else in a similar situation now or in recent history? 

Side thought---I've followed the F.I.R.E. community(Financial Independence Retire Early) for some time now, and so I've thought of using that money to fund my Roth IRA and invest in low cost index funds. Even with this option I'd be taking pre-tax funds and moving them to an after tax account(Roth IRA), and not quite sure about the ins and outs of doing that myself.

***Crummy situation but I hope this brings up a topic that others are going through as well so we can All Get Through This Together(that's the phrase of 2020, right?)