Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
For the oldies out there (in US): did you ever consider CRT (charitable remainder trust; like CRUT) or an exchange fund (not ETF) for your bitcoin?
If not, read about these two-to me, it was interesting to study those possibilities.
In short: CRUT-you put your bitcoin in, CRUT sells it (or not sell it, up to you) into IBIT, for example, to maintain exposure.
Then, you choose a number from 5% to 50% of then value of your asset that you put into CRUT and CRUT pays you (or someone else) those 5-50% (often 10%) per year either for your life or 20 years.
Percentage is calculated either on a yearly basis or it could be once in 5 years afaik (to capture the cycle, for example)
10% of your initial contribution goes to charity upon your eventual end (charity could be donor advised fund where you can give a direction).
No capital gains on your contribution, but whoever gets those payments pays taxes on income (not cap gains).
Exchange fund-you give your bitcoin to Morgan Stanley (the org used to be called Eton Vance, but it got bought out), they give you shares with exactly the same cost basis/gains proportion, you keep those shares for 7 years (shares become more valuable since they usually match it to some index, like Sp500), then you get actual stock(s) shares accordingly. Benefit-if you have a very concentrated bitcoin position (say, 70-99% of your wealth is in bitcoin and you want diversification without getting hit with cap gains tax. This depends on whether it is a good idea to diversify or not. M. Saylor has a certain opinion about it, but others might partially disagree.
Personally, to me 70-80% in bitcoin is fine, but 99% is a bit "extended"
Not an investment advice,of course, just entertainment.
If not, read about these two-to me, it was interesting to study those possibilities.
In short: CRUT-you put your bitcoin in, CRUT sells it (or not sell it, up to you) into IBIT, for example, to maintain exposure.
Then, you choose a number from 5% to 50% of then value of your asset that you put into CRUT and CRUT pays you (or someone else) those 5-50% (often 10%) per year either for your life or 20 years.
Percentage is calculated either on a yearly basis or it could be once in 5 years afaik (to capture the cycle, for example)
10% of your initial contribution goes to charity upon your eventual end (charity could be donor advised fund where you can give a direction).
No capital gains on your contribution, but whoever gets those payments pays taxes on income (not cap gains).
Exchange fund-you give your bitcoin to Morgan Stanley (the org used to be called Eton Vance, but it got bought out), they give you shares with exactly the same cost basis/gains proportion, you keep those shares for 7 years (shares become more valuable since they usually match it to some index, like Sp500), then you get actual stock(s) shares accordingly. Benefit-if you have a very concentrated bitcoin position (say, 70-99% of your wealth is in bitcoin and you want diversification without getting hit with cap gains tax. This depends on whether it is a good idea to diversify or not. M. Saylor has a certain opinion about it, but others might partially disagree.
Personally, to me 70-80% in bitcoin is fine, but 99% is a bit "extended"
Not an investment advice,of course, just entertainment.
Sure if you want your coins stolen for bullshit promises. #notyourkeys
These structures existed for a long time, they are not not bitcoin-specific.
They definitely will not hold your bitcoin-most likely sell it immediately for something else, which could be a bitcoin ETF with a small outside chance that they might open a bitcoin account on Coinbase or Gemini.
The whole point is how NOT to pay cap gains tax (which in some states could approach 42%) legally, but still have a legitimate use of gains one way or another.
I'm not wasteing my time so here's a one line question with n ai answer.
Quote
AI Overview
Based on the information available, there have been instances where financial advisors associated with Morgan Stanley Smith Barney
stole millions of dollars from clients' accounts.
Here's a summary of the details regarding these incidents:
The Securities and Exchange Commission (SEC) charged Morgan Stanley Smith Barney for failing to supervise four financial advisors who stole millions from clients. The firm lacked sufficient policies to prevent unauthorized transfers like ACH and wire transfers, which the advisors used to steal funds. The SEC found hundreds of unauthorized transfers were made to the advisors for personal gain.
Specific examples of advisors and the amounts stolen include Michael Carter ($6.15 million), Douglas McKelvey (at least $1.5 million), Jesus Rodriguez ($3.5 million), and Chingyuan “Gary” Chang (around $58,560).
Morgan Stanley Smith Barney settled with the SEC by paying a $15 million penalty.
Morgan Stanley has described these events as isolated and reported that they have improved their control systems and compensated affected clients.
Important Note: The available information indicates that individual advisors stole client funds, and the SEC charged Morgan Stanley for failing to prevent this through adequate supervision and procedures, not for the firm itself stealing funds.
Based on the information available, there have been instances where financial advisors associated with Morgan Stanley Smith Barney
stole millions of dollars from clients' accounts.
Here's a summary of the details regarding these incidents:
The Securities and Exchange Commission (SEC) charged Morgan Stanley Smith Barney for failing to supervise four financial advisors who stole millions from clients. The firm lacked sufficient policies to prevent unauthorized transfers like ACH and wire transfers, which the advisors used to steal funds. The SEC found hundreds of unauthorized transfers were made to the advisors for personal gain.
Specific examples of advisors and the amounts stolen include Michael Carter ($6.15 million), Douglas McKelvey (at least $1.5 million), Jesus Rodriguez ($3.5 million), and Chingyuan “Gary” Chang (around $58,560).
Morgan Stanley Smith Barney settled with the SEC by paying a $15 million penalty.
Morgan Stanley has described these events as isolated and reported that they have improved their control systems and compensated affected clients.
Important Note: The available information indicates that individual advisors stole client funds, and the SEC charged Morgan Stanley for failing to prevent this through adequate supervision and procedures, not for the firm itself stealing funds.