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Bitcoin, the world's first cryptocurrency, now has a market cap of around $1 trillion, which only took it 12 years. While tech stocks, including $Microsoft (MSFT.US)$ , $Apple (AAPL.US)$ , $Amazon (AMZN.US)$ , and $Alphabet-A (GOOGL.US)$ , took about 33 years to surpass a $1 trillion market cap on average.
Now, Bitcoin sits around $54,000, up from $8,800 one year ago. The market has 2 distinct views on the highly volatile cryptocurrency.
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Now, Bitcoin sits around $54,000, up from $8,800 one year ago. The market has 2 distinct views on the highly volatile cryptocurrency.
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What happened?
Investors currently pay a 23.8% top rate on long-term capital gains.
On Thursday, President Joe Biden is expected to propose doubling the tax rate wealthy Americans pay on investment returns when they sell stocks and other assets.
Who gets affected?
For those earning $1 million or more, the new top rate, coupled with an existing surtax on investment income, means that federal tax rates for wealthy investors could be as high as 43.4%, according to Bloomberg.
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Investors currently pay a 23.8% top rate on long-term capital gains.
On Thursday, President Joe Biden is expected to propose doubling the tax rate wealthy Americans pay on investment returns when they sell stocks and other assets.
Who gets affected?
For those earning $1 million or more, the new top rate, coupled with an existing surtax on investment income, means that federal tax rates for wealthy investors could be as high as 43.4%, according to Bloomberg.
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