Hello Traders,
This is my first post and it’s not a TA. I have seen several comments from people arguing that bitcoin ETFs are not necessary. I would argue that they are needed in some places. We just have to think outside our “box.” Take Japan, for example. Japan has capital gains taxes on stocks at 10%, however, their cryptocurrency capital gains tax is a whopping 50%. Cryptocurrencies were not created for us to give half of our gains to the government! Wouldn’t it make sense for the large population of people in Japan to be more attracted to the ETFs if they are taxed on it like a stock? Would it not create demand in the space? This is merely one example. There are very likely other places where the taxes will benefit ETF investment. Are there any other reasons why people might choose the ETF over holding the actual coins? Feel free to comment.
This is my first post and it’s not a TA. I have seen several comments from people arguing that bitcoin ETFs are not necessary. I would argue that they are needed in some places. We just have to think outside our “box.” Take Japan, for example. Japan has capital gains taxes on stocks at 10%, however, their cryptocurrency capital gains tax is a whopping 50%. Cryptocurrencies were not created for us to give half of our gains to the government! Wouldn’t it make sense for the large population of people in Japan to be more attracted to the ETFs if they are taxed on it like a stock? Would it not create demand in the space? This is merely one example. There are very likely other places where the taxes will benefit ETF investment. Are there any other reasons why people might choose the ETF over holding the actual coins? Feel free to comment.