Bitcoin Price Prediction: Buried Tax Rule in White House Report Could Spark Mining Boom – Could BTC Hit $500,000 in 2025?
Main Idea
A proposed U.S. tax rule change could benefit Bitcoin miners by deferring taxes until Bitcoin is sold, potentially sparking a mining boom and driving BTC prices higher, while regulatory developments and market pressures continue to influence Bitcoin's near-term performance.
Key Points
1. The U.S. House’s policy proposal suggests taxing Bitcoin mining rewards only upon sale, not when mined, which could reduce tax burdens and encourage mining activity.
2. Bitcoin miners may benefit from the elimination of double taxation and the creation of a strategic U.S. Bitcoin reserve managed by the Treasury.
3. Spot BTC ETFs in the U.S. recorded significant outflows, with over $500 million withdrawn since late July, indicating waning investor confidence.
4. Japan’s SBI Holdings filed for a Bitcoin and XRP ETF, which, if approved, would be Asia’s first, potentially boosting regulatory clarity and market sentiment.
5. Bitcoin’s technical analysis shows it trading around $114,240, with key resistance at $115,043 and support at $112,640, indicating potential for upward movement if resistance is broken.
Description
Bitcoin (BTC) is holding just above $114,000 as investors digest a new U.S. crypto report that could dramatically ease tax pressure on miners. The White House’s latest 168-page policy proposal recommends taxing mining rewards only when sold, not when received, mirroring how gold is treated. Under current rules, miners pay taxes the moment they earn Bitcoin, even if they don’t convert it to cash. Therefore, they often have to face a mismatch between tax liability and actual real income. So, by de...
Latest News
- [LIVE] Crypto News Today: Latest Updates for August 07, 2025 – BTC Enters ‘Trapdoor’ Territory as ETF Outflows, Weak Volume Weigh on Market2025-08-07 04:48:37
- JPMorgan Taps New Global Co-Head to Lead Blockchain Arm Kinexys2025-08-07 04:45:56
- Crypto Asset Manager Parataxis to Go Public in SPAC Merger, $640M BTC Treasury in Focus2025-08-07 04:31:58
- USDC Leads 3x Rise in Crypto-Based Salary Payments Over Past Year: Survey2025-08-07 02:55:02
- Bitcoin Price Prediction: $218M Satsuma Raise and SMA Retest Hint at $123K Breakout2025-08-07 02:40:29