Fund manager: Taxing Bitcoin 'doesn't make much sense'

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Bill Miller IV, the Chief Investment Officer of Miller Value Partners, believes that the government should not tax Bitcoin because the blockchain automatically records ownership without the administrative infrastructure required for traditional assets. He stated that taxing assets is meant to protect ownership rights, but with Bitcoin, the blockchain has taken on that role. Miller emphasized: "The government did not create Bitcoin, so intervention is unreasonable."

He also noted that the current lack of clear tax regulations for Bitcoin, such as not applying the "wash sale" rule, indicates that the market is still very early. In addition, traditional investment funds still face difficulties in purchasing Bitcoin due to unclear tax regulations.

Miller is the son of investment legend Bill Miller III, who once held 50% of his net worth in Bitcoin and related investments.

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