or $120 | FightYourOwnBattle on Binance Square

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FightYourOwnBattle

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or $120

J_a_m_e

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Bullish

$WIF will bounce from current zone, 1.857-1.800. My first TP(25% of my total trade) is 2.672,second TP 3.313, third tp at 4.860. I'll leave the remaining 25% to run.

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“IRS Provides Tax Relief for Cryptocurrency Holders: What It Means for XRP Investors” The Internal Revenue Service (IRS) has introduced temporary relief measures affecting cryptocurrency tax reporting, which may impact XRP holders. Previously, the IRS planned to enforce the First-In, First-Out (FIFO) accounting method for calculating capital gains on digital assets, potentially leading to higher tax liabilities for investors. Recognising the challenges this posed, the IRS has postponed the mandatory implementation of FIFO until December 31, 2025. This extension allows taxpayers to continue using alternative accounting methods, such as Highest-In, First-Out (HIFO) or Specific Identification (Spec ID), offering greater flexibility in managing tax obligations. It’s important to note that this relief is not specific to XRP but applies broadly to all digital assets.

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“U.S. States Exploring Bitcoin Reserves: Potential Impacts on the Crypto Market” Several U.S. states are considering establishing strategic Bitcoin reserves. This interest has been spurred by President-elect Donald Trump’s proposal for a national Bitcoin reserve, which has brought cryptocurrency into the political spotlight. States such as Texas and Pennsylvania are exploring the creation of their own Bitcoin reserves. Proponents argue that holding Bitcoin could serve as a hedge against inflation and economic instability, potentially attracting crypto-related businesses and investments to these states. • Increased Demand: State purchases of Bitcoin could drive up demand, potentially leading to higher prices. • Market Legitimization: Government adoption may enhance Bitcoin’s legitimacy, encouraging broader acceptance and investment. • Regulatory Influence: State involvement could lead to more favorable regulatory environments, fostering innovation and growth in the crypto sector. Overall, while the consideration of Bitcoin reserves by U.S. states reflects growing interest in cryptocurrency as a financial asset, it also raises questions about economic stability, regulatory coherence, and the prudent management of public resources.

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“MicroStrategy Expands Bitcoin Holdings with $561 Million Purchase, Totaling 444,262 BTC” The most recent acquisition occurred between December 16 and December 22, 2024, when the company bought 5,262 BTC for approximately $561 million, averaging $106,662 per Bitcoin. This purchase increased MicroStrategy’s total holdings to 444,262 BTC, acquired at an average price of $58,219 per Bitcoin, totaling about $23.41 billion. Additionally, MicroStrategy has proposed increasing its authorized Class A common shares from 330 million to 10.33 billion, potentially enabling the company to acquire a significant portion of the world’s Bitcoin supply.

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this has happened on Dec’5

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