Summary
- Bill Miller IV, Chief Investment Officer of hedge fund 'Miller Value Partners', stated that the government has no right to impose taxes on Bitcoin profits.
- Miller explained that Bitcoin automatically records property rights through the blockchain, so taxes cannot be enforced.
- He said that, unlike traditional assets, Bitcoin does not require ownership verification by government infrastructure.
There has been an argument that the government has no right to impose taxes on profits from Bitcoin (BTC).
According to Cointelegraph on the 7th (local time), Bill Miller IV, the Chief Investment Officer (CIO) of the hedge fund 'Miller Value Partners', stated on a podcast, "The reason we pay taxes is ultimately for the protection of property rights," and "Bitcoin does not require such a process at all, so there is no basis for imposing taxes."
He noted that, unlike Bitcoin, other assets require a process of verifying ownership through government infrastructure. Bill Miller explained, "The various taxes incurred when buying and selling a house are ultimately costs to manage 'who owns what'," and "because blockchain automatically records property rights, taxes cannot be enforced."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
