Bloomberg: Bitcoin Pulls Back 30%, Creating a Rare "Tax-Loss Harvesting" Opportunity
BlockBeats News, December 26, according to Bloomberg, bitcoin has fallen about 30% from its all-time high, creating an unusual tax planning opportunity. Several financial advisors have stated that tax-loss harvesting of digital assets may be significantly more common this year than in previous years.
So far this year, bitcoin is still down about 5%, while the S&P 500 index has risen about 18% over the same period. This significant divergence gives investors who hold both stocks and crypto assets a strong incentive:
To sell bitcoin positions with unrealized losses before the end of the year to offset capital gains from stock investments, especially for those who bought bitcoin at its high in October.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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