Cryptocurrencies like bitcoin are treated as “property” per IRS rules (IRS Notice 2014-21). When you trade cryptocurrency for a profit, you end up having to pay taxes on the resulting capital gains. The capital gains (profit) is the difference between how much you paid for the cryptocurrency (the cost basis) Read more…
Crypto exchange Binance has announced the launch of its crypto debit card in Europe and the UK. Dubbed Binance Card, it’s powered by multi-asset wallet and Visa debit card platform Swipe. The card users will be able to pay with Bitcoin, Binance Coin, Swipe’s native SXP token and Binance USD Read more…
Digital assets management firm Grayscale has increased the weighting of Bitcoin and Ethereum in its Digital Large-Cap investment fund. The change in composition comes at the expense of major altcoins including XRP, Bitcoin Cash and Litecoin. In the two weeks following Bitcoin’s halving in May 2020, Grayscale’s rate of Bitcoin Read more…
Billionaire investor Elon Musk became $6.1 billion richer on Friday after Tesla stock rose by 11%. That makes him richer than the “Oracle of Omaha” Warren Buffett—whose net worth wealth stands at $69.2 billion. Both CEOs are among the richest in the world—but still own very little Bitcoin. Tesla CEO Read more…
Bitcoin price has been showing record-high levels of correlation with traditional markets and on July 9 the correlation between the S&P 500 and BTC reached a new all-time high. Data from Skew shows that the one-year realized correlation reached 0.38 on Thursday, July 9 and this came after the metric Read more…
Bitcoin was designed so that there is a finite supply of 21 million BTC. One explanation for the 21 million Bitcoin limit is the money supply replacement theory. An alternative suggestion is that the limit could be mathematically extrapolated from Bitcoin’s operating parameters. Like many other cryptocurrencies, Bitcoin (BTC) was designed around Read more…
Silviu Catalin Balaci confessed that he was one of the operators of the massive crypto Ponzi scheme BitClub Network. The Romanian programmer confirmed that BitClub defrauded its victims of at least $722 million in Bitcoin. He is now facing up to five years in prison and a fine of up Read more…
Hundreds of billions of dollars in US Paycheck Protection Program funds have reportedly been dispensed to companies that did not need it. Max Keiser and Stacy Herbert discuss the matter, as well as other controversial loans. In 2008-2009, when all the banks received government bailouts, those at the top of Read more…
In the first seven months of Bitcoin’s existence, Bitcoin creator Satoshi Nakamoto mined as many as 1.1 million Bitcoin. This fortune, now worth in excess of $10 billion, remains untouched to this day. Numerous individuals have been put forward as the enigmatic Satoshi, but his identity has yet to be Read more…
Standing against $190,000 per BTC linked to the predicted S&P 500 surge ‘Bitcoin likely to hit $60,000-$80,000’ A renowned trader and analyst Josh Rager has shared his recent video analysis of Bitcoin, Ethereum and other coins, where he explains why the next Bitcoin high peak would be $60,000-$80,000. Standing against $190,000 per Read more…