4 ms·
My understanding is they're still investment property. So probably more like a stock split. IOW, there wasn't a sale and a re-buy. You had 1000 shares of bit
by bb88 7y ago
My understanding is they're still investment property. So probably more like a stock split. IOW, there wasn't a sale and a re-buy. You had 1000 shares of bitcoin and now you have 2000 shares, some of which are in bitcoin-A and some of with are in bitcoin-B.
As to the cost you would probably assume the Day-1 value after the split for the new coins. The price of the split of the old coins should have been reflected in the price.
- Scoundreller 7y agoAh, the other word I was looking for was “spin-off”, but usually paperwork needs to be filed with the government for it to be considered a tax-free distribution, instead of a dividend. Like HP becoming 2 separate companies. With coins, there’s no central issuing authority filing this kind of paperwork, so I always wondered if these spinoffs were taxable distributions.