An Unrealized Capital Gains Tax Would Wallop Big Stock And Bitcoin Investors
If an unrealized capital gains tax is enacted, it could have major ramifications for the economy and create a dangerous precedent.Bitcoin HODLers live by the words of the 1987 Rick Astley hit song, “Never Gonna Give You Up.” Many have held their stack for years, through steep price declines, only to see the price ratchet up to new highs every year. In contrast to short-term trading, it’s a buy-and-hold investment strategy that seems to be working. Janet Yellen doesn’t care. Treasury Secretary Janet Yellen announced on October 23 that a proposed tax on unrealized capital gains — yes, gains....
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A warning by Tesla and Spacex CEO Elon Musk about the mounting national debt in the U.S., government spending, and the proposal to tax unrealized capital gains has highlighted the benefits of cryptocurrencies, particularly bitcoin.
Elon Musk Says ‘Spending Is the Real Problem’
Tesla CEO Elon Musk made several tweets about the U.S. national debt and government spending last week. He also warned against the proposal to tax unrealized capital gains, aimed at billionaires, which was scuttled Friday amid questions about whether it would even be constitutional.
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Bitcoin has been on a tear throughout the past few weeks, with its price posting 2017-style gains as buyers take charge After reaching highs of $19,000, the cryptocurrency’s momentum began stalling and it entered yet another consolidation phase These bouts of sideways trading have been seen on multiple occasions throughout the recent uptrend. They are nearly always followed by upside One trader is noting that investors unrealized profitability has now passed that seen during the […]
The current state of the Bitcoin market offers a mix of optimism and caution for investors. Over 87% of Bitcoin holders are in profit, with their investments valued higher than their initial purchase prices. Related Reading: Whales Dump Over $1 Billion In Bitcoin: Fire Sale Or Foreshadowing? On average, these investors are seeing unrealized gains of 120%, a significant figure that reflects the substantial rally that pushed Bitcoin to its all-time high in March, according to Glassnode data. However, despite these gains, the market exhibits both encouraging long-term trends and some....
The eccentric billionaire polled his Twitter followers but already had the sale planned due to tax obligations. Tesla CEO Elon Musk has offloaded more than one billion dollars worth of shares according to recent financial filings. Filings submitted on Nov. 11 to the Securities and Exchange Commission confirm the sale of more than 934,000 Tesla shares worth around $1.1 billion.Musk sold the shares at an average price of around $1,170, locking in almost 180% in gains in prices over the past year. It is just the third time Musk has sold company stock since Tesla went public on the Nasdaq in....
On-chain data shows 99% of the circulating Bitcoin supply has unrealized profits again. History may have the hint for where the market could head next. 99% Of The Circulating Bitcoin Supply Has Unrealized Gains As pointed out by a CryptoQuant post, the profit percent of the circulating BTC supply has reached 99% once again as […]