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.
Former Ultimate Fighting Championship (UFC)champion Eddie Alvarez has announced his jump into the world of cryptocurrency investment. Tweeting that he “can’t sit on the sidelines any longer“, the former fighter openly stated that he had purchased one Bitcoin unit.
All right @Benaskren I finally jumped in and grabbed 1 Bitcoin , I can’t sit on the sidelines any longer . You got me !!! I still have no clue what it’s all about but I’m in … you might have to coach me they this .
— Eddie Alvarez (@Ealvarezfight) May 7, 2020
In his tweet, Alvarez targeted his decision to mixed martial artist (MMA) Ben Askren, who is a known avid Bitcoin fan. Askren’s Twitter account, which displays a handle is currently dedicated to the Bitcoin halving event, boasts numerous bullish Bitcoin tweets.
The Twitter community offers its warm (and cooler) welcome
In response to Alvarez, billionaire and former fund manager of the investment firm Fortress Investment Group Michael Novogratz tweeted: “Welcome to the home team.” Other cryptocurrency enthusiasts welcomed Alvarez, congratulating him on buying in just before the Bitcoin halving.
Other Twitter users took the more humourous approach, pointing out the dark connotation that digital currencies hold. One user commented that he can now “buy drugs and nuclear weapons on the dark web.”
As other comments poured in about the costly price of one Bitcoin, which sits at $9968 USD at the time of writing, Alvarez replied saying that the point is not the price right now, but the future value of the token.
Slightly more maybe like 9800.00 or some shit but I don’t care about the value now or in the near future , it’s a long term hold , not a cash grab
— Eddie Alvarez (@Ealvarezfight) May 8, 2020
Bitcoin potentially poised to a bullish rally
As the time ticks towards the Bitcoin halving, sentiment around the price of Bitcoin continues to rise. Numerous investors and analysts, as well as historic data, are backing the token to see a major spike in price following the event.
Should the token see an upsurge, we might just see more tweets coming in from the former UFC fighter about his new digital investment.