Buying Cars with Cryptocurrency
(Room W224)
11 Mar 22
10:30 AM
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11:30 AM
Tracks:
Business Essentials & Innovations
According to a recent study, there are 46 million bitcoin holders in the U.S., roughly 17% of the adult population. Publicly traded companies and other financial technology giants have invested corporate cash reserves in bitcoin. PayPal, Venmo and Robinhood have offered cryptocurrency services to millions of users. These factors have collectively pushed the market capitalization of cryptocurrency to over $1 trillion and bitcoin to its all-time high value of $63,000 in 2021. Examine the tax implications of common cryptocurrency-related transactions, tax and accounting concerns and best business practices for accepting cryptocurrency.