比特币，税收和基金经理：在纽约市导航加密迷宫

探索比特币税收和基金经理观点的复杂性。政府有权获得税收比特币吗？投资时基金经理面临哪些障碍？

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.

比特币的崛起引发了有关对数字资产征税以及基金经理如何在这一新地形中的辩论。让我们研究加密领域中比特币，税收经理和基金经理的未来的关键问题。

The Great Bitcoin Tax Debate: Who Gets a Slice?

伟大的比特币税辩论：谁得到了切片？

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质疑税收比特币背后的基本原理。他的论点？比特币的所有权记录在区块链上，而不是政府基础设施。米勒在《硬币故事》播客中告诉娜塔莉·布鲁内尔（Natalie Brunell），他说：“让他们到达那里没有很多意义。”他指出，像房地产的传统税收一样，为所有权的跟踪提供资金，比特币不需要。

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."

米勒的论点是，政府没有创建比特币，因此他们不应该征税。比特币上没有“洗涤销售规则”是一种振兴，但税收的不确定性仍然是基金经理的障碍。正如米勒所说：“即使作为基金经理，我们仍然有巨大的障碍来实际购买它，因为如果我们购买ETF并在错误的时间出售税收涉及不良收入的税收规则，以便所有这些都需要解决。”

Fund Managers and the Bitcoin Tax Minefield

基金经理和比特币税雷​​区

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.

税收规则为希望投资比特币投资的传统资产经理带来了重要的障碍。围绕收入和资本收益的复杂性需要澄清，直到更多的基金经理才能确保进入比特币市场。

A Nod to the Bitcoin Whales

对比特币鲸的点头

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，一个休眠的比特币钱包自2011年以来不活跃后，比特币的比特币价值约为86亿美元。这种十年历史的比特币的大规模转移凸显了早期比特币采矿的寿命和规模。尽管所有者的身份仍然是一个谜，但该事件导致市场波动，强调了大型比特币持有人的影响。

The Future of Bitcoin: Still Early Days

比特币的未来：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!

尽管它增长了，但加密货币空间仍然很年轻，尤其是在监管方面。税收的不确定性是这一点的标志。比尔·米勒四世（Bill Miller IV）的父亲比尔·米勒三世（Bill Miller III）拥有比特币净资产的50％。这是一个继续狂欢的好兆头！

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，无论您是基金经理还是一个好奇的观察者，都要关注这些问题的发展。比特币，税收和基金经理的交集肯定会带来更多的曲折。毕竟，在加密货币世界中，这始终是一次冒险！