The good news is that your cryptocurrency investment went through the roof and proceeded on up into the stratosphere. The bad news is that you want to sell before the volatile crypto market crashes, like it frequently does, but you know you will face a huge capital gains tax if and when you do.
If you’re an investor with a high tolerance for risk, you likely have invested in one or more digital currencies, i.e., cryptocurrencies, in the past decade or so. Bitcoin, the granddaddy of them all, only appeared in 2008. Today, however, you have over 6,700 different publicly traded cryptocurrencies to choose from. Their total value, as of Feb 18, 2021, was more than $1.6 trillion. On that date, Bitcoin alone was worth over $969.6 billion.