With Bitcoin almost hitting 100k, what are your thoughts and is it worth buying now because it'll only go up from here? Or will their be a dip opportunity?
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When is the best time to buy bitcoin? When you buy bitcoin, Dollar cost average so you can smooth out the highs and dips. I started this past March12. I now have $2300 invested and have a profit of $1125. I buy through River Financial. They do not charge a fee if you have a recurring order (you only get charged on the first buy). They now let you deposit cash (which you can withdraw if you need it) and the cash earns 3.8 percent interest in bitcoin. I have started to add cash every week.
Max Keiser just posted on X that 1 bitcoin will be $200,000 in six months. Max is the ultimate bitcoiner.
how the hell are you supposed to pay taxes on that bitcoin that was earned as interest on that cash through River financial? that seems cool but i just don't want to deal with taxes tbh.
I'm wondering about the unrealized gains on his purchase. Say if BTC goes to $200K and was purchased at $75K, then at the end of the year there will be unrealized gains. Yet, I suppose, next year if for some reason tanks to $1k, will he get a tax break on unrealized LOSSES?
Maybe it will work like mutual funds. I have a mutual fund in a brokerage account that re-invests gains to buy more shares, I only pay taxes or that re-investment amount.
Yes you do have to pay taxes on it. River calculates the tax documents for you, I remember when I did last year's taxes, you were asked about crypto.