If you move as much $$ into bitcoin as you move out of it you should just break even. Holding bitcoin itself "should" (not 100% certain) not cause any tax liabilities, only if you use them to generate $$ through sales.
E.g, this year:
now, buy 100 BTC for 35 USD each, 3500 USD out
end of year, sell 10 BTC at 350 USD, 3500 USD in
Net: 0 USD (taxable), 90 BTC (non-taxable)
next year:
sell 10 BTC at 350 USD, 3500 USD in
Net: 3500 USD (taxable), 80 BTC (non-taxable)
E.g, this year:
now, buy 100 BTC for 35 USD each, 3500 USD out
end of year, sell 10 BTC at 350 USD, 3500 USD in
Net: 0 USD (taxable), 90 BTC (non-taxable)
next year:
sell 10 BTC at 350 USD, 3500 USD in
Net: 3500 USD (taxable), 80 BTC (non-taxable)
You wouldn't have to pay taxes on the bitcoin inventory but you do still have to put it on you taxes as inventory in a dollar amount. All of the money is accounted for the government just looks at the inventory as assets that they will receive taxs on in the future. You could do this your whole life but when you dies the government is gonna get theirs.
