Bitcoin and other cryptocurrencies fell sharply on Friday, and later Reuetrs said what was the reason. Cryptocurrency holders are concerned that US President Joe Baiden’s plan to raise capital gains taxes will limit investment in digital assets.
This week, the Biden administration announced a number of proposed changes to the U.S. tax code, including a plan to nearly double taxes on capital gains to 39.6% for people earning more than $ 1 million.
Bitcoin, the largest and most popular cryptocurrency, fell to $ 47,555, dropping below $ 50,000 for the first time since early March. At the time of publication of this note, the exchange rate was $ 49,799.
Ether and XRP were down 3.5% and 6.7%, respectively, while dogecoin, which is up about 8,000% this year, fell 20% to $ 0.21, according to data from CoinGecko. The tax plans shook the markets, prompting investors to take profits in stocks and other risky assets that rallied significantly in hopes of a lasting economic recovery.
“With the high rate of growth in the price of Bitcoin, cryptocurrency holders who have accumulated profits will be taxed,” said Nick Spanos, founder of Bitcoin Center NYC. He believes that the Bitcoin rate will fall even more in the coming days.
Bitcoin fell 11.3% in a week, the worst weekly reading since late February. However, on an annualized basis, it grew by 72%.
Users will be able to replace switches in the Epomaker AK84S mechanical keyboard
A fundraising campaign for the Epomaker AK84S 84-key wireless mechanical keyboards has been organized on Kickstarter. A feature of this...
Microphone SPC Gear SM950 Onyx White addressed to streamers
SilentiumPC has introduced SPC Gear for those who are fond of streaming. The SPC Gear SM950 Onyx White microphone is...
Roccat Kone Pro and Kone Pro Air gaming mice are on sale
Turtle Beach has announced the launch of the Roccat Kone Pro and Kone Pro Air gaming mice. The buttons on...
Bill Gates lost his seat on the board of directors of Microsoft due to an intimate relationship with an employee of the company
According to The Wall Street Journal, Microsoft’s board members decided last year that Bill Gates, the company’s co-founder and former...
The global version of the popular smartphone Redmi Note 9 has fallen in price
The global version of the popular Redmi Note 9 smartphone is available on AliExpress for just $ 144. Redmi Note...
Developing Countries Fight To Buy Huawei Data Centers Despite US Espionage Warnings
Since 2006, many developing countries have signed agreements with Huawei to provide data centers and cloud infrastructure. A study by...
Honor revealed details about the new smartphone before the announcement
Honor has officially announced that the new flagship smartphone Honor Play 5 will be equipped with a 6.53-inch OLED screen....
It’s not like Apple. The company introduced a “new generation of sound” at no additional cost
Apple today announced Spatial Audio with Dolby Atmos support, coming to Apple Music. The soundtrack is multidimensional and therefore more...
- News5 days ago
Ethereum creator Vitalik Buterin crashes the Shiba Inu cryptocurrency rate
- Electric Cars6 days ago
Huawei’s smart car with Harmony OS has become a hit: Cyrus SF5 has already been bought by more than 10,000 people
- News4 days ago
Elon Musk will launch Starship spacecraft from Tahasa to Hawaii for the first time
- News7 days ago
Samsung unveils industry’s first CXL memory
- Components6 days ago
Asus ROG Strix LC Radeon RX 6900 XT TOP T16G graphics card is based on GPU Navi 21 XTXH
- Software7 days ago
US opposes Instagram for kids
- Phones6 days ago
Apple brings back iPhone 11 and iPhone 12 missing performance: iOS 14.6 bug fixes
- News7 days ago
Xiaomi introduced the smart fumigator Mijia Smart Mosquito Repellant 2