Biden's New Tax Plans Plunges Bitcoin Price by More the 10%

Story by Manikanta Immanni 5 months ago

Bitcoin has lost more than 10% of its value on Friday, falling below $49,000 after a record run since the beginning of this year. Reason behind this slump is attributed to the proposed rise in capital gains tax by US president, Joe Biden. According to it, people earning over $1 million will be mandated to pay a tax of 39.6%.

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