We are seeing more managed money and, to an extent, institutional money entering the space. Anecdotally speaking, I know of many people who are working at hedge funds or other investment managers who are trading cryptocurrency personally, the question is, when do people start doing it with their firms and funds?
We are seeing entrepreneurs issuing their own blockchain-based tokens to raise money for their networks, sidestepping the traditional, exclusive world of venture capital altogether. The importance of this cannot be overstated - in this new world, there are no companies, just protocols.
I think the technology will get bigger and the price of Bitcoin will go up, so I'm speculating to increase my purchasing power. But I don't intend to sell the Bitcoin. I intend to hold it until there's a day where I can just use Bitcoin completely.
Taxes have been complicated. Every single time I spend a Bitcoin, it's a taxable event. It's like I bought and sold an asset. It counts as an investment, with a short- or long-term capital gain or loss.
