So, a senior citizen in one of the western countries makes a complaint that he preferred the 1950s when everything made sense and life was simple. He loves the analog times more than the digital. Despite this, he trusts Bitcoin self-custody, and that is the reason why he holds bitcoin. He complains that his bitcoin just sits in his hard wallet, and he doesn't even know what to do with it. According to him, his fear is that if he sells it during the next bull run, he will be taxed, and he doesn't want that. A question arises: Would taxes still be applicable if a time comes when exchanging bitcoin for fiat is no longer necessary?
Tax matters are different for different countries. It depends on which country you live in. because this matter is determined by the government of each country. If I want to tell my personal side Bitcoin is not yet legalized in my country. And there is no local bitcoin wallet in my country so again bitcoin holdings cannot be tracked by the government. And we never pay taxes to the government for bitcoins. But when we convert these bitcoins to fiat and keep that money in bank or invest elsewhere then we have to pay tax return for that money every year.