Bitcoin sinks below $50,000 as cryptos stumble over Joe Biden's tax plans
Shortpedia
Content Team
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Bitcoin and other cryptocurrencies suffered hefty losses on Friday on fears that U.S. President Joe Biden`s plan to raise capital gains taxes will curb investment in digital assets. The selloff came after reports that the Biden administration was planning a raft of proposed changes to the U.S. tax code, including a plan to nearly double taxes on capital gains to 39.6% for people earning more than $1 million.
