PHI Group Inc (PHIL): He's not borrowing a NTF, he is borr...

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Re: OnlyinitfortheMoney post# 104548

Sunday, 06/05/2022 10:09:49 AM

Sunday, June 05, 2022 10:09:49 AM

He's not borrowing a NTF, he is borrowing Bitcoin. The IRS treats Bitcoin as property, which is not fungible for lending purposes. You cannot borrow property, and then sell it for USD without having a taxable event. He would have to pay taxes on that sale. That article you use is about trading USD and Bitcoin, not lending. This type of loan is usually used by leverage traders and very short term and very risky.

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