Commodity Trade Mantra

Posts Tagged ‘Capital Gains’

IRS Rules Bitcoin Is Property - Not Currency

The IRS has issued its statement clarifying th etax treatment of Bitcoins – Bitcoin and other virtual currencies are treated as property, not as a currency. Therefore, an investor who buys bitcoin would typically have a capital gain or loss when it’s sold but wouldn’t have foreign-currency gains and losses.

Bitcoin versus Gold: Currency versus Money

Bitcoins are currencies, not money or investments and the differences between these three concepts is crucial to doing asset management right. Sound money doesn’t have counterparty risk; its value doesn’t depend on someone else keeping a promise & so holds value over long periods of time.

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