Mark Yusko predicts Bitcoin will soar to $150,000 this year. He advises allocating 1-3% of portfolios to Bitcoin, which he believes is more valuable than gold. He cites the launch of Bitcoin ETFs and the upcoming Bitcoin halving as drivers of its growth. Yusko expects Bitcoin to surge after the halving, which limits its supply, and potentially reach $150,000.
The IRS is bolstering its digital currency monitoring with former crypto experts, signaling increased scrutiny for tax professionals. The agency is pursuing investigations related to unreported crypto income and gathering data through tax return questions. Upcoming regulations aim to enhance reporting in 2025, while inconsistent reporting methods persist. Taxpayers should expect heightened examination of their crypto activities as the IRS intensifies its efforts to regulate the industry.
