INSIGHT: Crypto and a Song for the Saints

摘要

Selva Ozelli, an international tax attorney and CPA, explains how to claim a tax deduction for charitable donations of cryptocurrency. The author suggests that a taxpayer could contribute to organizations addressing environmental conditions that may have been caused, in part, by the mining and trading of cryptocurrency. Tesla’s CEO Elon Musk admitted in a recent interview that Bitcoin’s structure is “quite brilliant” and it is “a far better way to transfer value than pieces of paper” pointing to the way of the future of money. Being the CEO of an electric car, solar panel, and clean energy storage company,Mr. Musk cautioned that nevertheless “one of the downsides of Bitcoin mining is that computationally it is quite energy intensive” as it metabolizes electricity into money.