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You can borrow against it, and that wouldn't be a taxable event. Not sure what % of your portfolio lenders allow though.
by cko 5y ago
You can borrow against it, and that wouldn't be a taxable event. Not sure what % of your portfolio lenders allow though.
- mumblemumble 5y agoIt's not really about taxable events so much as possessing a financial interest. Using it as collateral doesn't get it off your balance sheet, nor does it negate the influence of any price swings. If anything, it intensifies them, since a downward swing (say, in response to a tweet saying you're no longer three rocket emoji Bitcoin, only two rocket emoji Bitcoin) might trigger a margin call.