Bitcoin should not be taxed, says the fund manager

Bill Miller IV, Chief Investment Officer at Miller Value Partners, argues that the US government is not entitled to the taxation of Bitcoin ownership, since it does not require a state infrastructure for administration or review of property rights.

Im„Coin Stories“ -Podcast said Miller said that, in contrast to assets such as real estate, where taxes are financed by maintaining property records and legal framework, the decentralized blockchain from Bitcoin takes over these functions itself.

“If you buy a house, taxes go into the recording and enforcement of property rights,” he noted. “With Bitcoin, none of this is necessary – the blockchain automates all of this.

Since the government has neither created the Bitcoin system nor maintains, Miller believes that it makes little sense for them to raise taxes on it. “It is important to remember that the blockchain deals with ownership rights.”

He also commented on the recent political speculation, including Eric Trump's alleged interest in the abolition of capital gains tax in some digital assets. While Miller is not sure whether such suggestions will be successful, he said that the lack of a “wash sale” rule for Bitcoin is already a positive step.

When asked whether Bitcoin could be subjected to an annual wealth tax one day like real estate, Miller remained skeptical and said there was a reasonable argument against it.

He also pointed out that even professional investors encounter obstacles when it comes to cryptocurrencies. “The tax rules are still unclear, especially when it comes to how yields from crypto ETFs are treated,” he said. “That's why I'm saying again and again – there is another beginning.”

Miller IV comes from a legacy of courageous investors. His father, Bill Miller III, beat the S&P 500 for 15 years and said publicly that half of his net assets are created in Bitcoin and crypto companies.

Alexander has been working in the crypto industry for three years and has made a name for himself during this time through his active participation in observing the market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional obligation, but a deep personal passion. He follows the news from the industry every day, analyzes trends and is enthusiastic about every new step in the development of blockchain solutions. His enthusiasm drives him to constantly learn and share his knowledge because he sees the future in the digital financial world and its role in global transformation.