Bitcoin

[boneil]

Back to $100,000

We got a couple state bitcoin reserves


There's also a new company called Strive that is going public via a spac $ASST. Might be the next MSTR. The spac was trading at .50 the other day and is now $8. I have some shares that I plan to hold to see if it becomes the next MSTR and is worth selling covered calls on down the road. It's either a zero or a hero.

[TownesZ21]

I'm fairly aggressive, but cashed out my Bitcoin after liberation day.

Thought process was to take an almost double before it really dropped. Most Bitcoin guys are levered and I thought BC would drop harder than most because of it. It did, I just didn't get back in it time. That money went into the Q's so it has worked, but not sure as well as if I found the bottom in BC.

[motomania]

approaching $110k...............wonder if this correlates with multiple finance notifications i'm getting w/stories of the weakening dollar?

[boneil]

I've been too busy to pay attention but

[davidsa]

approaching $110k...............wonder if this correlates with multiple finance notifications i'm getting w/stories of the weakening dollar?

gold was up today as treasury notes spiked and stocks sank. Treasury yields suggest higher long term borrowing cost that tend to undermine stocks. Gold is a fear or dollar weakening thing. Cybercurrency might have same appeal.

[mossie3]

Australia judge ruled Bitcoin is not an asset, but a currency, and therefore not subject to income taxes. Australia may be refunding $640 million of income taxes paid. Hopefully the US will follow suit. It's beyond ridiculous, that every time you would buy a cup of coffee with Bitcoin, it becomes a taxable event that requires record keeping for income tax reporting. IMO, if Bitcoin can clear this hurdle being allowed to be the currency it is here in the US, not being subject to income tax since it is not an asset, it will appreciate exponentially from here.

[TownesZ21]

Australia judge ruled Bitcoin is not an asset, but a currency, and therefore not subject to income taxes. Australia may be refunding $640 million of income taxes paid. Hopefully the US will follow suit. It's beyond ridiculous, that every time you would buy a cup of coffee with Bitcoin, it becomes a taxable event that requires record keeping for income tax reporting. IMO, if Bitcoin can clear this hurdle being allowed to be the currency it is here in the US, not being subject to income tax since it is not an asset, it will appreciate exponentially from here.

Very interesting, thanks for sharing

[davidsa]

If we take our US currency and park it in a MMA, CD, Savings account, etc. it produces some level of interest that is taxed. We don't actually pay a tax to use our money but gains on it were taxed.

If we have a stock, generally it can't be used to pay for something and no tax is due until it is sold.

If we buy and hold an ounce of gold, I don't know that anyone could even track that and it has no gain until sold. If it was used to pay for something, I'm not sure any capital gain on it could be tracked or if it has to be.

Please educate on how bitcoin works please vs things that have been around for a long time. Thanks