Crypto taxes

Given the recent almost parabolic rise in the price of some cryptocurrencies, investors will need to be mindful of potential tax liabilities that they may trigger if they sell their holdings. And in some jurisdictions they may well wish to consider using their capital gains tax allowance. Whilst CNN’s claim that 100% of Bitcoin holders are in profit as the cryptocurrency reaches all times highs, this may not be totally accurate. Many will be considering their option, especially post Bitcoin halving, which is due to take place in April 2024. But in the meantime, hundreds of millions of dollars are flooding in Bitcoin ETFs and, with more buyer than sellers, the price keeps rising.

Source: X (Twitter)

It is rather ironic that cryptocurrencies were promoted so as not to be required to deal with large institutions but be independent of both governments and the global titans in the banking and asset management sectors. According to BitcoinTreasuries.net, publicly-traded companies such as Micr…