BTC is the Most Stable Crypto, Bill Miller Says

The first investment in the crypto currency Bill Miller made back in 2014, investing 1% of its net assets
30 July 2018   1367

Famous American investor Bill Miller is convinced that bitcoin is the best and the most stable crypto currency, which in many of its characteristics is similar to gold. This is reported by Bitcoinist.

The investor believes that the digital currency market is still emerging and it is therefore difficult to predict its further development. In general, Miller views crypto-currencies as an interesting technological experiment. According to him, it will be very interesting when "big money" of institutional investors comes to this market.

However, Bill Miller is an obvious bitcoin-maximalist who believes that altcoins are of little use.

Most of them [cryptocurrencies] are probably worthless. Bitcoin is the most stable of the currencies. I think it has the greatest probability of being successful. There are others that people like, but that’s the only one I’m interested in.
 

Bill Miller

Cryptoinvestor

Miller also believes that bitcoin is good because it is a non-revertible asset, which in many respects is similar to gold. However, he notes, the first cryptocurrency has a number of advantages over this precious metal. In particular, bitcoin is much more transportable and better serves as a means of exchange.

And yet, despite the advantages listed, Miller believes that bitcoin has not yet become an effective payment system or a viable currency. The investor also expressed the opinion that if the bitcoin capitalization had reached at least a third of the total market value of gold, then banks would certainly consider the crypto currency as a reliable asset.

The first investment in the cryptocurrency Bill Miller made back in 2014, investing 1% of its net assets. Now the founder of Miller Value Partners is already far beyond 60 and he calls himself "bitcoin expert".

Israeli BTC Investors to Face Catch 22

They need to pay taxes from Bitcoin investing in order to avoid their property arrest, but banks don't take their money due to AML issues
06 August 2019   132

Bitcoin investors in Israel are faced with the impossibility of paying taxes, as local banks refuse to accept funds received from the sale of cryptocurrencies because of the risks of money laundering and terrorist financing. About this writes the local edition of Haaretz on August 6.

Bitcoin is not recognized as a currency in Israel, therefore, individuals must pay 25% of the income from cryptocurrency trading to the treasury, and legal entities - 47%.

Investor Ron Gross told the publication that he acquired bitcoins in 2011 and reported his income to the tax office. In 2017, the bank that served Gross began to refuse to accept funds received from the sale of bitcoins. The investor met with representatives of the bank to demonstrate to them a 70-page history of bitcoin transactions as confirmation of the origin of the funds, but failed to convince them.

The tax authority is aware of the problem, but they say the ball isn’t in their courts. I’ve tried working with almost all the banks, but the minute they hear the word ‘Bitcoin’ they freeze up.
 

Ron Gross

Bitcoin investor from Israel

 

Since Gross was unable to pay taxes on time, his bank account, home, and even scooters were arrested. According to the investor, the tax authorities know about the problem, but can do nothing.

According to Haaretz, the tax office is aware of $ 86 million in unpaid taxes on income from cryptocurrency trading. It is possible that the real amount may be significantly higher.

Roy Arav, another Bitcoin investor, kept the proceeds from trading Bitcoin in an account with Israeli bank Discount under the control of the Bit2C exchange. The bank refuses to transfer money to Arava’s personal account under the pretext that its politicians forbid it to transfer funds related to virtual assets to client accounts due to the risks of money laundering and terrorist financing.

Arav also could not pay taxes and was forced to sue the bank. According to the investor, the authorities entered his position and granted him a deferral of time for the consideration of the claim.