Bitcoin Taxes? Oh, That’s Rich! Fund Manager Throws Shade at Uncle Sam

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Okay, so apparently the government wants to tax Bitcoin now. Yeah, sure! Because, you know, tracking who owns what coin is just exhausting, right? You need a whole office, a couple of interns, maybe even a White House task force! Give me a break. Miller Value Partners’ Bill Miller IV – and let’s just appreciate that there have been at least three other Bill Millers before him – is basically saying, “Why? Why are you doing this? What are you gaining?!”

On Coin Stories podcast, Miller goes, “For them to reach their hand in there doesn’t make a ton of sense.” And honestly, is there any scenario where the government reaching for your wallet *does* make sense? 🍩🙄

Let’s Get Real: The Blockchain Already Did the Homework

Miller’s early on the Bitcoin hype train, waving his hands saying, “You know who keeps track of real estate? The government. They tax you to make sure no one steals your mailbox. And that’s apparently worth all those recordation taxes.”

But with Bitcoin? No government needed. No city hall. No dusty files. Just a blockchain – it’s like a robot notary, but with less small talk and terrible coffee. ☕🤖

So Miller’s all, “Hey, the government didn’t create Bitcoin. I don’t see them rolling out a new Satoshi every month.” And he drops this gem:

“The blockchain does that property automation for itself, right?”

Meanwhile, rumor has it Eric Trump wanted to kill capital gains taxes on crypto. No wash sale rule on Bitcoin, either. You can sell, buy it right back, no IRS agent hiding in your shrubbery. Very cool, very legal, very not stressful – unless, you know, you’re the IRS.

Miller’s take on a property tax for Bitcoin? “Eh, who knows? But if there’s a good argument for not having it, I’ll take it. I mean, are we gonna have a Bitcoin fire department next? Bitcoin police? Bitcoin dog license?”

Still Early – So Early It’s Practically Yesterday

Here’s the kicker – it’s apparently so “early” with Bitcoin that nobody even knows what the tax rules are. Fund managers, these Wall Street types, they want in but they’re all terrified. “When do we get taxed? Which rule? Do I have to give my coins a W-2?” So many questions, no answers, just vibes. 🤷‍♂️

And let’s not forget Miller IV’s dad, Bill Miller III. This guy went 15 years beating the S&P 500. Now he’s put half his money into Bitcoin and friends. I guess the apple really doesn’t fall far from the… blockchain? 🍏💸

So until Congress runs out of things to argue about (never), every accountant is just going to keep guessing how to tax Bitcoin. Maybe next year we’ll get a new IRS form: “Did you, at any point, annoy the blockchain?”

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2025-07-06 06:47