Bill Miller challenges the logic behind bitcoin taxes
Bill Miller IV, chief investment employee at Miller Valle, says governments have no right to impose taxes on Bitcoin because the property rights department does not require any administrative efforts.
“For them to reach their hands there is meaningless,” Miller ” He said Natalie Brunell on Podcast Metal Currency Stories on Wednesday.
Blockchain records ownership, not the government
Miller, who is known for his early diet from Bitcoin (BTC), said that Bitcoin does not depend on government infrastructure to verify or impose property rights, unlike traditional assets such as real estate.
“When you buy or sell a house, all this registration tax, all of these taxes tend to track someone who owns,” said Miller.
“The truth is if you are considering the reason for paying taxes in society, then this is the implementation of property rights.”
Miller said this is not necessary with Bitcoin. He said, “The government did not create Bitcoin, so this is an important point that must be taken into account,” adding:
“Blockchain Is this real estate automation to herself, right?”
Earlier this year, rumors concluded that US President Donald Trump, Eric Trump suggested canceling capital gains on some US -based cryptocurrencies. Regarding the possibility of exempting Bitcoin from the capital profit tax, Miller said, “Whether this happens in the end or not, who knows but it is very wonderful that there is no bitcoin washing base.”
When asked if he sees Bitcoin he has a real estate tax, similar to how to impose property taxes in the United States annually based on the market value, he says he is not sure, but “there is a good argument for its lack of existence.”
Bitcoin’s tax uncertainty “still early”
Meanwhile, Miller said that traditional asset managers are still facing obstacles when buying bitcoin, mainly due to uncertainty about taxes.
“Even as box managers, we still have great obstacles to actually buying them because tax rules around bad income if we buy traded investment boxes and sell them at the wrong time, so that they should all be resolved,” he said.
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He added: “For this reason, I still say that it is still early because the rules of the tax surrounding them are really interesting.”
Bill Miller IV is the son of legendary investor Bill Miller III, and he is the director of funds known for his victory over the S&P 500 index for 15 years in a row in the Legg Mason.
In an interview with him in January 2022, Miller III said he was carrying 50 % of his net wealth in Bitcoin and relevant investments in major industry companies such as Michael Silor strategy and BTC Strongold Digital Mining.
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