/biz/ - Business & Finance

What happens (tax wise) if I just keep accumulating cryptocurrency and never selling it?

I’m putting $500/week into cryptocurrency and holding through all the pumps and dumps, with a hope that in 5-10 years I’ll have enough in cryptocurrency to sell it all in 1 go and cash out and buy a house outright


With this strategy, do I even need to worry about tax implications at all?

FYI: I’m only trading Fiat for Crypto, I’m not trading Crypto for Crypto, I understand if you trade Crypto for Crypto that it is considered a realized gain that you must pay tax on, which is why I’m only using fiat to buy crypto and never using crypto to trade for other crypto

bitcoin is 64% dominance according to coin marketcap.

49% in a year for an asset that can lose 50% of its value in a day is a joke.
nvidia did a 2x in a year and it didnt lose half its value in a day.
If the only choice i have is bitcoin i dont even want to bother.