At the moment, bitcoin is attracting a partial restoration of the lost positions with the news released by the White House headed by Biden. They intend to raise tax rates in the country for citizens whose incomes have grown significantly over the last year and have reached more than $ 1 million. Growth from 23.8% of the current tax is planned to be raised to 39.6% and taking into account investment income in aggregate, it may amount to 43.4%. Analysts suggest that such an increase cannot put negative pressure on cryptocurrencies and assets for a long period. Stock indices have already recovered their indicators, overcoming the decline in response to the information released.
Venmo is a payment application created by PayPal that provides services to users in purchasing, storing and selling cryptocurrencies. Also, Venmo users can freely invest their funds in the main offered cryptocurrencies BTC, LTC, ETH, BCH, as well as perform mutual settlements with the same cryptocurrencies for goods and services. It should be notedthat Venmo is a solid in scope and very popular service worldwide with over 70 million customers.
Bill Miller, being the director and founder of Miller Value Partners, confidently claims that bitcoin is not a financial bubble, but its mass adoption is another confirmation of its stability. A well-known investor explains that the rising price action of bitcoins will continue as demand continues to grow well ahead of the 2% annual growth in supply.
Article provided by Forex broker Weltrade