I agree. It's suspect because the numbers don't add up. From the article: " [...]Tom Lee notes that U.S. households owe an estimated twenty five billion dollar

I agree. It's suspect because the numbers don't add up. From the article: " [...]Tom Lee notes that U.S. households owe an estimated twenty five billion dollars in capital gains taxes due to crypto gains." Total market capitalization of all cryptocurrencies, as of 12:18PM EST on April 6, 2018 is $248,821,531,204. According to Mr. Lee, each $1 taken from the market will result in a $22.50 decrease in aggregated market value (avg. of his estimated range, "$20 - $25"). 25B * $22.50 = $562.5B He's suggesting that the price impact on cryptocurrencies required to pay for capital gains is going to be double the current market capitalization? Am I misinterpreting the statement he made? The alternative explanation I can come up with is if the statement was poorly formed and what he was really talking about was $25B in investment income will need to be reported and the appropriate short-term or long-term tax rates would need to be applied. Rough, back of napkin estimation, assuming an even distribution between short-term and long-term capital gains tax rates--which isn't going to be accurate, but I don't have a better way to estimate for this analysis--would be: Short-term: $12.5B * 28%[1] = $3.5B Long-term: $12.5B * 15%[2] = $1.875B Total Estimated Taxes Due: $5.375B Estimated impact on total market capitalization: 5.375B * $22.50 = $121B That would leave $127B in the market, or if evenly distributed over all tokens, all prices would be half of their current values after April 15 (e.g. today's $6.6k BTC would be $3.3k BTC). That doesn't sound right, either. Am I totally off-base for both interpretations? --- [1] Making an educated guess about the "typical" cryptocurrency investors' income bracket, but without actual numbers I'm open to this estimate being higher than reality. [2] https://www.fool.com/retirement/2016/12/11/long-term-capital-gains-tax-rates-in-2017.aspx https://www.fool.com/retirement/2016/12/11/long-term-capital...