It's just YouTube, but today I ran across a video that mentioned a bitcoin HODL tax.
The term refers to taxes incurred when holding spot Bitcoin ETFs and not the real bitcoin as mentioned in this
YouTube videoSo I predict that their next move is to launch enormous taxes to discourage people from owning bitcoin, and prevent mass adoption as competition for their corrupted CBDC's that still have to be launched.
If you live in the United States, there is already a tax on the profit you make from any bitcoin sold. If you buy your bitcoins at $400 and sell at $500 on centralized exchanges Binance, Coinbase and the others, they are bound by the law to report this gains to the IRS. The only gameplan against this is to evade the tax by selling your bitcoin on a decentralized exchange. To pay less tax on bitcoin capital gains, consider a long-term capital gains than short term capital gains.
Can we be exposed to taxation or legal penalties when the wallet is reported as stolen? I think not, but I want to be sure.
I don't think you can pay taxes on something you do not officially own. And neither can you pay taxes when you don't have money or own other assets.
Like I have said earlier, you are only taxed on bitcoin sold at a profit.