Futures are one way, but you could also buy some BTC fund on margin with IBKR. Because margin interest is negative income, whereas futures are only tax free capital gains.
Futures return:
+ BTC price
- USD price
- roll yield (USD interest)
+- roll yield (other convenience yield)
- collateral opportunity cost (probably 0 if using BTC)
Fund on margin
+ BTC price
- USD price
- USD interest (tax deductible)
- margin interest markup
- fund TER
+ tax deduction at marginal rate
On a second thought, you probably can’t, because if you really only hold BTC (in whatever form) in taxable accounts, then you probably have no collateral eligible for margin on IBKR.
If that is not how things are, then taking this BTC allocation out of 3a (swapping it with whatever else from taxable), seems the better low hanging fruit.
This field is somewhat complex. Running full calculations on status quo and potential change is required.
I have just checked out of curiosity. The margin requirements for IBIT are 39% long and 42% short. Do they consider it safer than UPRO (75% long and 90% short)?
I dont think this year yet.
Not sure its already clear in the mainstream how much exposure trumps future cabinett members have to btc.
Probably after the inauguration
Jokes aside. My best guess: game theory. As trump confirmed Bitcoin is in play (at least will not be handicapped like the dems wanted. You may think twice as a country, not to be left behind if it really takes off. So BRICS is buying.
Unfortunately, the Europeans totally didn’t get it.
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