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Rick Rieder, Blackrock’s chief investment officer (CIO) of Global Fixed Income, was asked Friday in an interview with CNBC about his view on Bitcoin now that the cryptocurrency is legal tender in El Salvador.
“Part of why I own a small piece of BTC is I do think there are more people who are going to enter that fray over time … I like assets that are volatile that have upside convexity. I could see Bitcoin go up significantly.”
In other trending Bitcoin News today: Bitcoin investors are reportedly exempt from taxes in El Salvador!
The government of El Salvador will reportedly exempt investors from paying a capital gains tax and an income tax on Bitcoin (BTC), according to a presidential legal counsel.
“If a person has assets in Bitcoin and makes high profits, there will be no tax. This is done obviously to encourage foreign investment,” Argueta said, adding that El Salvador will impose no taxes on “either the capital increase or the income.”
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