比特幣，稅收和基金經理：在紐約市導航加密迷宮

探索比特幣稅收和基金經理觀點的複雜性。政府有權獲得稅收比特幣嗎？投資時基金經理面臨哪些障礙？

Bitcoin's rise has sparked debates on taxing digital assets and how fund managers navigate this new terrain. Let's dive into the key issues shaping the future of Bitcoin, taxing, and fund managers in the crypto space.

比特幣的崛起引發了有關對數字資產徵稅以及基金經理如何在這一新地形中的辯論。讓我們研究加密領域中比特幣，稅收經理和基金經理的未來的關鍵問題。

The Great Bitcoin Tax Debate: Who Gets a Slice?

偉大的比特幣稅辯論：誰得到了切片？

Bill Miller IV, CIO of Miller Value Partners, questions the rationale behind taxing Bitcoin. His argument? Bitcoin's ownership is recorded on the blockchain, not by government infrastructure. "For them to reach their hand in there doesn’t make a ton of sense," Miller told Natalie Brunell on the Coin Stories podcast. He points out that traditional taxes, like those on real estate, fund the tracking of ownership, which Bitcoin doesn't require.

Miller Value Partners的CIO Bill Miller IV質疑稅收比特幣背後的基本原理。他的論點？比特幣的所有權記錄在區塊鏈上，而不是政府基礎設施。米勒在《硬幣故事》播客中告訴娜塔莉·布魯內爾（Natalie Brunell），他說：“讓他們到達那裡沒有很多意義。”他指出，像房地產的傳統稅收一樣，為所有權的跟踪提供資金，比特幣不需要。

Miller's argument is that governments didn't create Bitcoin, so they shouldn't tax it. The absence of a "wash sale rule" on Bitcoin is a perk, but uncertainty around taxation remains a hurdle for fund managers. As Miller says, "Even as fund managers, we still have huge impediments to actually buying it because taxation rules around bad income if we buy ETFs and sell them at the wrong time, so that all needs to be worked out."

米勒的論點是，政府沒有創建比特幣，因此他們不應該徵稅。比特幣上沒有“洗滌銷售規則”是一種振興，但稅收的不確定性仍然是基金經理的障礙。正如米勒所說：“即使作為基金經理，我們仍然有巨大的障礙來實際購買它，因為如果我們購買ETF並在錯誤的時間出售稅收涉及不良收入的稅收規則，以便所有這些都需要解決。”

Fund Managers and the Bitcoin Tax Minefield

基金經理和比特幣稅雷​​區

Taxation rules present a significant obstacle for traditional asset managers looking to invest in Bitcoin. The complexities surrounding income and capital gains need clarification before more fund managers can confidently enter the Bitcoin market.

稅收規則為希望投資比特幣投資的傳統資產經理帶來了重要的障礙。圍繞收入和資本收益的複雜性需要澄清，直到更多的基金經理才能確保進入比特幣市場。

A Nod to the Bitcoin Whales

對比特幣鯨的點頭

In July 2025, a dormant Bitcoin wallet moved approximately $8.6 billion worth of Bitcoin after being inactive since 2011. This massive transfer of decade-old Bitcoin highlights the longevity and scale of early Bitcoin mining. While the owner's identity remains a mystery, the event caused market volatility, underscoring the impact of large Bitcoin holders.

2025年7月，一個休眠的比特幣錢包自2011年以來不活躍後，比特幣的比特幣價值約為86億美元。這種十年曆史的比特幣的大規模轉移凸顯了早期比特幣採礦的壽命和規模。儘管所有者的身份仍然是一個謎，但該事件導致市場波動，強調了大型比特幣持有人的影響。

The Future of Bitcoin: Still Early Days

比特幣的未來：仍然很早就

Despite its growth, the crypto space is still young, especially regarding regulation. The uncertainty around taxation is a sign of this. Bill Miller IV's father, Bill Miller III, has 50% of his net worth in Bitcoin. This is a good sign to keep hodling!

儘管它增長了，但加密貨幣空間仍然很年輕，尤其是在監管方面。稅收的不確定性是這一點的標誌。比爾·米勒四世（Bill Miller IV）的父親比爾·米勒三世（Bill Miller III）擁有比特幣淨資產的50％。這是一個繼續狂歡的好兆頭！

So, whether you're a fund manager or just a curious observer, keep an eye on how these issues evolve. The intersection of Bitcoin, taxing, and fund managers is sure to bring more twists and turns. After all, in the world of crypto, it's always an adventure!

因此，無論您是基金經理還是一個好奇的觀察者，都要關注這些問題的發展。比特幣，稅收和基金經理的交集肯定會帶來更多的曲折。畢竟，在加密貨幣世界中，這始終是一次冒險！