Topic: 2021-04-23 CoinDesk - Bitcoin’s Drop on Biden’s Proposed Tax Hike Just Temporary (Read 58 times)
April 24, 2021, 03:38:55 PM
It doesn't matter if the president of Biden had it about bitcoin or not, it's not so important anymore - because the fall has taken place and can continue, so what's the difference now. People close to the White House and technology sector advisors should pay more attention to the expert notes they write there if they want to help the cryptocurrency market and not crash it. The careless words of such a person can in one day, as we have all seen, create big problems for an entire sector. So check what the TV prompter is broadcasting there!
April 24, 2021, 03:40:41 AM
Quote
Bitcoin (BTC) has slumped more than 8%, over a 24-hour period, a drop attributed to U.S. President Joe Biden’s proposed tax increase on capital gains on those earning above $1 million. But the effect may be temporary, according to the CEO of a leading crypto-dedicated payment services provider.
Biden’s proposed treatment of capital gains as income, which stipulates a rate of up to 39.6% instead of the current 23.8%, has had “a shock effect in all markets,” BCB Group CEO Oliver von Landsberg-Sadie told CoinDesk. Still, cryptocurrency is likely to be unaffected over the long-term, he said.
Biden’s proposed treatment of capital gains as income, which stipulates a rate of up to 39.6% instead of the current 23.8%, has had “a shock effect in all markets,” BCB Group CEO Oliver von Landsberg-Sadie told CoinDesk. Still, cryptocurrency is likely to be unaffected over the long-term, he said.
https://www.coindesk.com/bitcoin-dip-biden-tax-hike-capital-gains
I am very annoyed by the fact that this news totally misread Biden's words and got used solely to throw shit at bitcoin on MSM.
Biden never said anything about bitcoin, but the press likes to make sensational association between uncorrelated topics and this fake news helped the price sliding a bit further down.
Unfortunately, this is the level of the playing field.
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