Bankless

ROLLUP: Wonderland $TIME | Crypto Price Bear Market? | Odell Beckham Jr Bitcoin | Twitter NFTs

Jan 28, 2022
Dive into the financial fallout of Odell Beckham Jr.'s choice to take his salary in Bitcoin as prices take a hit. Discover tax strategies in the crypto world, especially during market downturns. The hosts explore the ongoing bear market, comparing it to past trends and assessing the long-term potential of digital assets. Plus, get a sneak peek at Twitter's new NFT feature and the community's mixed reactions. Finally, learn about the rising career opportunities in the crypto space and the need for trust in DeFi.
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ANECDOTE

Odell Beckham Jr.'s Bitcoin Loss

  • Odell Beckham Jr. lost over half of his Bitcoin salary due to market depreciation and taxes.
  • He failed to optimize for taxes, highlighting the importance of tax planning.
ADVICE

Crypto IRA for Tax Optimization

  • Open a crypto IRA for tax-free or tax-deferred crypto investing.
  • This avoids tax issues like Odell Beckham Jr.'s Bitcoin salary problem.
INSIGHT

Macro vs. Crypto Bear

  • Current crypto downturn correlates with macro trends, unlike the 2018 crash.
  • The Federal Reserve's policies are influencing risk-on assets like crypto.
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