Bitcoin is now ‘legal property’ in Russia
Russia Passes Bill Taxing Crypto Transactions, Exempts Miners from VAT
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Russia Passes Bill Taxing Crypto Transactions, Exempts Miners from VAT
Bitcoin is expected to cross the $100,000 price mark as early as the end of 2024 or early 2025, supported by strong market fundamentals. Here are the key reasons and forecasts:
Supply and Demand Dynamics: The 2024 Bitcoin halving has reduced the rate of new Bitcoin entering the market, creating a supply shock. Coupled with increasing institutional demand, such as significant inflows into Bitcoin ETFs, this scarcity is driving price predictions upward.
Institutional and Global Adoption: Growing adoption by sovereign wealth funds and institutions (e.g., Bhutan and El Salvador increasing Bitcoin reserves) indicates confidence in Bitcoin as a hedge against inflation and as a reserve asset. This trend could sustain demand growth.
Market Predictions:
Bitcoin is now ‘legal property’ in Russia Russia Passes Bill Taxing Crypto Transactions, Exempts Miners from VAT Russia just put Bitcoin at...