Grayscale buys 17.100 BTC, Bitcoin Fund Bitwise doubled since 2019 and New-Zealand IRS about tax

Photo by André François McKenzie on Unsplash

Grayscale buys 17.100 BTC, raising their Trust to 449.000 Bitcoin

It’s the same amount of BTC of a 19-day mining production. Their total bag of Bitcoin is now 449.000 BTC, being worth $4,83 billion.

Besides the Bitcoin Trust, Grayscale also serve their customers with other cryptocurrency Trusts, like Bitcoin Cash and Ripple. All these funds in total, also called the Assets Under Management (AUM), exceed the $5,8 billion.

New-Zealand begins probing crypto-currency investors

It’s requested all firms pass on customers’ personal details as well as the type and value of their crypto assets.

“IRD is requesting this information to enhance our understanding of the cryptoasset environment in New Zealand so we can work out how best to help taxpayers meet their income tax obligations,”

IRD said they’re in the early stages of its inquiry and it’s too early to say what the response had been amongst firms. If taxpayers were concerned that they had not met their tax obligations, they could make a voluntary disclosure to IRD.

Source: RNZ

Bitwise Bitcoin Fund Doubles to $9 million

An amended filing with the Securities and Exchange Commission (SEC) last week showed the asset manager had raised, in total just under $8.9 million for its Bitcoin Fund. It provides accredited U.S. investors with exposure to BTC through a traditional product.

“With the unprecedented expansion of the Fed’s balance sheet, the radical amounts of fiscal stimulus, and the Fed’s new and significantly more dovish inflation policy, [Bitwise clients] are looking for a hedge,” ~ head of research, Matthew Hougan

Hougan said that many of Bitwise’s clients were financial advisors who serve wealthy investors, themselves worry about the debilitating effects inflation can have on their portfolios. Bitcoin’s fixed supply of 21 million is a possible solution to runaway inflation.

Source: CoinDesk

Give us a call on +31 85 2250 510 or email us at support@crypto2cash.com. Our members of staff are available between 9.00–18.00 CET to answer any question you may have, especially in regards to easily selling your crypto for fiat currencies.

The fast and secure solution to sell crypto for businesses and private individuals alike