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You do illustrate exactly why no one should ever buy a Tesla in bitcoin, because it isn't currency, it is more of an asset like Gold. So why does Elon say that
by bhouston 6y ago
You do illustrate exactly why no one should ever buy a Tesla in bitcoin, because it isn't currency, it is more of an asset like Gold. So why does Elon say that people will buy Tesla's in BTC then?
- MobileVet 6y agoBecause there are massive tax benefits to purchasing something with bitcoin. What other asset can be turned into a hard good without realizing a tax on appreciation?
- jcampbell1 6y agoHuh? Every time I spend bitcoins I pay capital gains on the amount I spend. If you don’t, you are committing tax fraud.
- tom_ 6y agoNot sure about other places, but the UK and US treat this situation as equivalent to a sale of the cryptocurrency. Capital gains tax may become due.