I came across an interesting document: US Congressman Matt Gaetz proposed a bill that would allow Americans to pay federal income taxes using Bitcoin.
💰 Flesh nolog
In fiscal year 2023, which ended Sept. 30, total federal income tax revenue reached $2.614 trillion, according to the U.S. Treasury Department.
🤑 Bitcoin capitalization
For comparison, the current capitalization of Bitcoin is about $1.225 trillion.
📈 Potential market impact
If even a small percentage of the US income tax bill starts circulating in Bitcoin, it could have a significant impact on the cryptocurrency market.
🐗 My opinion:
This proposal, if adopted, could significantly increase demand for Bitcoin as government payments in the cryptocurrency become the norm, strengthening its status not only as an investment asset, but also as a practical means of payment.
Let me remind you that the financial system of Shatov is far from ideal; they still use checks and other arachaisms in financial matters.
Paying taxes with crypto will solve many pain points for entrepreneurs. But the bill must first be supported.
#binance #новости #Bitcoin #btc $BTC
