"We build too many walls and not enough bridges."
Big News Of The Day: Diamond Hands: 80% Of Bitcoin Circulating Supply Now Owned By Long-Term Holders
Podcast Of The Day: The Breakdown - Is Kraken's Settlement With the CFTC Actually Bullish?
Video Of The Day: Aimstone: Willy Woo on the Last Bitcoin Cycle
Blog Of The Day: 6 Reasons Why the Success of Bitcoin Is Inevitable
My Hot Take
Investors are holding on to their bitcoins now more than ever. I hope this same is for you. It can be incredibly difficult to HODL Bitcoin over the huge rises and deep drops but in 12 years it's went from $0 to $43K; not to bad of a return eh? Meanwhile, Chamath Palihapitiya says Bitcoin has replaced Gold and I believe him.
The recently released final text of the reconciliation bill (SEC.138151) intends to subject cryptocurrency to a complex tax rule called, constructive sales. Under this proposed rule which could go into effect on January 1, 2022, cryptocurrency users could incur taxes without even selling their crypto positions. However, I do not believe this will fly because of the impact it will have to every other asset it will apply to.
In other news - Living past 120 years seems insane but $1B will go to work to make it possible. Folks in San Jose CA will get internet access with Helium Crypto mining. DC Comics will release its first NFT collection, Coinbase Pro is adding support for AVAX token, and Tether scores major legal win in $1 Trillion market manipulation case. Lastly, Visa develops interoperability concept for central bank digital currency payments; they are coming to a mobile device near you.
Well that's a wrap but, continue to read, watch, and listen to the information I curate on my website. I believe you will be well positioned to benefit from the most transformative technological shift we've seen in our life time. Be STRONG and HODL on!
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