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Bloomberg: Bitcoin Pullback of 30% Creates Rare Tax-Loss Harvesting Opportunity
Summary: According to Bloomberg, Bitcoin's 30% drop from its all-time high is creating an unusual tax opportunity. Financial advisors suggest that tax-loss harvesting for digital assets this year may be significantly higher than in previous years. Bitcoin is down about 5% for the year, while the S&P 500 index has risen approximately 18% during the same ...
According to Bloomberg, Bitcoin's 30% drop from its all-time high is creating an unusual tax opportunity. Financial advisors suggest that tax-loss harvesting for digital assets this year may be significantly higher than in previous years. Bitcoin is down about 5% for the year, while the S&P 500 index has risen approximately 18% during the same period. This significant divergence is motivating investors holding both stocks and crypto assets to sell their losing Bitcoin positions before the year-end to offset capital gains from stock investments, especially for those who bought Bitcoin at the high in October.
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Link: Bloomberg: Bitcoin Pullback of 30% Creates Rare Tax-Loss Harvesting Opportunity [Copy]
