I plan to HODL for a very long time but i have a hypothetical.
If i were to buy $10,000 worth of Bitcoin and the value increases to $11,000.
Would I create a taxable event if I only converted my initial $10,000 back to USD and left the gain of $1k in and exchange or wallet?
I would think that since I’m not withdrawing any gains there is nothing to tax but idk maybe I’m missing something.
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