Nations with huge taxes on cryptocurrency buying, selling, and holding have seen a surge in migration of residents to countries with low & favorable taxes. Bloomberg reported that Christian Angermayer, the founder of Apeiron Investment Group and a known investor has left England and moved to Lugano.
His major investments are in life sciences, fintech, AI, psychedelics, and crypto; as of writing, his real-time net worth was $1.1 billion, making him the 2699th richest in the world.
He said, “Every non-dom I know has left or is about to leave.”
The city of Lugano made several amendments to its tax acceptance mode, and in December, it announced that it had begun accepting tax payments in Bitcoin and Tether.
A person aware of the fact notes that the move by Angermayer to shift is appreciated, as he decided to shift to Lugano, Switzerland which exempts taxes on holding or selling cryptocurrencies, which means no taxes on the profit booked by trading cryptos.
Switzerland is competing with other evolving crypto markets, such as the United Arab Emirates, India, and Hong Kong.
Recent News Updates
Data from CryptoSlam(dot)io notes that Known Origin #74758 became the most costly in the past 24 hours for $145,215, followed by Bitcoin Shroom #91 for $63,350. The NFT sales volume of the vast market surged more than 22%, reaching $13,692,196.
In the past few days, the ETFs have seen significant traction; as of writing, the U.S. Bitcoin ETF market saw a daily net inflow of $365.50 million. As per SoSoValue, ARKB saw an inflow of $113.82M, followed by IBIT with $93.38M, FBTC with $74.00M, and BITB at $ 50.38 M.
Despite this inflow, the Bitcoin ETF by Grayscale (GBTC) continues to bleed, mirroring an outflow of $7.73 million and a cumulative net inflow of$20.01 billion. IBIT by BlackRock continues to expand its presence and dominance over the ETF market; its Bitcoin holding recently surpassed that of GBTC.
On September 27, 2024, Todayq reported that the U.S Securities and Exchange Commission (SEC) had given a green signal to Bank of New York Mellon Corp for crypto custody above Exchange Traded Funds.
In a discussion with media professionals, the president of Ripple noted that the company’s stablecoin backed by the U.S dollar will debut on the market soon; the company is seeking approval from the U.S SEC.
Crypto Market Price Update
Until publishing, the cryptocurrency market was $2.258 trillion, with a surge of 5.94% in the past seven days, and in the past 30 days, it grew 10.52%. At the same time, the fear and greed index powered CoinMarketCap at 54, reflecting neutrality.
The market capitalization recently surpassed 20, 50, 100, and 200 days of exponential moving average (EMA). The constant bull dominance has pulled the Bitcoin price above $65k; when writing it was trading at $65,749 with an intraday surge of 1.01%.
BTC prices have registered a surge of 10.21% in the past 30 days and 55.48% YTD (year-to-date). Despite the surge in the trading price, the market dominance of Bitcoin fell 1.43% in a week.
