Crypto News - Bitcoin falls below $50K after Biden's new tax strategy - Bitcoin News
Crypto News - Bitcoin falls below $50K after Biden\'s new tax strategy - Bitcoin News https://www.youtube.com/watch?v=yAc7sMP4Koc Bitcoin suffers substantial loss, falls below $50K after Biden's tax strategies Bitcoin and other cryptocurrencies suffered substantial losses on Friday on issue that U.S. President Joe Biden's strategy to raise capital gains taxes will suppress investment in digital assets. The selloff followed reports that the Biden administration is preparing a raft of proposed changes to the U.S. tax code, including a strategy to almost double taxes on capital gains to 39.6 per cent for individuals making more than $1 million. Bitcoin, the most significant and most popular cryptocurrency, dropped 5 per cent to $48,8867, falling listed below the $50,000 mark for the very first time given that early March, while smaller competitors Ether and XRP fell around 7 per cent. The tax strategies jolted markets, triggering investors to book revenues in stocks and other ...