Thank you for reminding me of MARA. I had it on a secondary watchlist because its “Low” price tends to make option strategies more expensive. However, I do think MARA would be a more correlated play with the fortunes of Bitcoin.
Uncle Joe wants to claw back some of those crypto profits. Its retroactive for all of 2021... how convenient: As Bloomberg reports, President Joe Biden will propose almost doubling the capital gains tax rate for wealthy individuals to 39.6%, which, coupled with an existing surtax on investment income, means that federal tax rates for investors could be as high as 43.4%, according to people familiar with the proposal. The plan would boost the capital gains rate to 39.6% for those earning $1 million or more, an increase from the current base rate of 20%, the people said on the condition of anonymity because the plan is not yet public. A 3.8% tax on investment income that funds Obamacare would be kept in place, pushing the tax rate on returns on financial assets higher than the top rate on wage and salary income, they said. The proposal could reverse a long-standing provision of the tax code that taxes returns on investment lower than on labor. Biden campaigned on equalizing the capital gains and income tax rates for wealthy individuals, saying it’s unfair that many of them pay lower rates than middle-class workers. For $1 million earners in high-tax states, rates on capital gains could be above 50%. For New Yorkers, the combined state and federal capital gains rate could be as high as 52.22%. For Californians, it could be 56.7%. And investors know the implications... (and for everyone selling now, it's too late - the tax will be retroactive!)
That's kind of crazy. The USA will have among the highest, if not THE highest capital-gains tax rate in the world.
Bitcoin value will remain up and down like as the flow when people think price undervalued they will buy if people think the price too high will sell
Reminds me of silver and oil. Exactly the same expectation of silver, it's limited and will go to the moon $500...$1000+
Just woke up, we visited 48K, nice. By the way this thread is extremely stupid. Nobody, and I mean NOBODY knows how to value a crypto, that is why we have markets to tell us. So any kind of mumbo-jumbo explaining what a crypto's price should be is nothing but bovine manure. I am glad I could cleared this up.
It is like saying：internet has no intrinsic value, encryption has no intrinsic value, URL has no intrinsic value, domain name has no intrinsic value, whatever I do not understand has no intrinsic value, LOL.