Canada Adopts International Crypto Tax Reporting Standard
Canada is aimed at having the OECD standard for crypto asset tax reporting in place by 2027, as agreed with 46 countries.
Bitcoin has had its fair share of supporters and critics in the financial world. While many traditional bankers and investors have been cautious in their approach to the digital currency, there are also those who have embraced it with open arms and see its potential for changing the way money is managed and exchanged.
Taking a look at some of the top advocates of Bitcoin ($BTC) from the banking and investment sector can help give perspective on how the cryptocurrency industry is shaping the financial world overall.
Mike Novogratz
Mike Novogratz is a former hedge fund manager and a prominent cryptocurrency advocate. He started his career at Goldman Sachs as a partner in the risk arbitrage department and later became a hedge fund manager at Fortress Investment Group, where he helped build one of the largest macro funds in the world.
Novogratz is a well-known figure in the cryptocurrency community and has been a strong advocate for the adoption of digital assets. He is the founder and CEO of Galaxy Digital, a digital assets merchant bank that invests in and manages assets in the cryptocurrency and blockchain space.
Anthony Pompliano
Anthony Pompliano, also known as “Pomp,” is a Bitcoin advocate and investor who has a background in finance and investment management.
He is a co-founder and partner at Morgan Creek Digital, a digital asset investment firm, and is also a co-founder and General Partner at Full Tilt Capital, a venture capital firm. Before that, he worked as an institutional salesperson at BlackRock, one of the world’s largest investment management firms.
He is known for his strong advocacy of Bitcoin as a hedge against inflation and as a store of value. Pompliano is a frequent speaker at conferences and events, and is often featured in the media discussing the future of cryptocurrency and blockchain technology. He is also an active investor in Bitcoin and other digital assets, and is considered by many to be one of the foremost experts on the intersection of finance and cryptocurrency.
Paul Tudor Jones
Paul Tudor Jones is an American hedge fund manager and investor. He is the founder of Tudor Investment Corporation, a private investment firm that focuses on global macroeconomic strategies and invests in a wide range of assets, including currencies, bonds, and equities. Jones is considered to be one of the most successful hedge fund managers of all time and is known for his ability to generate strong returns for his investors.
Jones has commented that cryptocurrencies will be “at a value much higher than where we are today.” He has confirmed that he still owns Bitcoin noting:
“I’ve always had a small allocation [of Bitcoin] … In a time where there’s too much money, to much fiscal spending, something like crypto, specifically Bitcoin and Ethereum, that will have value at some point.”
These are just a few examples of the many advocates for Bitcoin in the banking and investment space. While some traditional financial institutions remain skeptical of the cryptocurrency, its supporters believe that it has the potential to revolutionise finance and change the way we think about money and investments.