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Billionaires are selling Bitcoin ETFs to gain 'incredible' tax benefits, claims analyst
Bitcoin (BTC) whales are selling their holdings to buy them back in the form of exchange-traded funds (ETFs) that offer "incredible" tax benefits, according to Martin Hiesboeck, the head of research at cloud-based financial service platform Uphold. On Nov. 9, Hiesboeck wrote a post on X in which he talked at length about the reasons why long-term crypto holders are selling their stack. The first reason they are selling, he states, is to buy back the crypto in the form of ETFs that offer tax advantages with current rules, especially in the U.S. Hiesboeck adds that the whales are also selling their Bitcoin holdings ... (full story)
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