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June/July 2021 » Pragmatic Realities of Bitcoin...
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William M. VanDenburgh, PhD, and Roger B. Daniels, PhD
In BriefAlthough many investors in cryptocurrencies like Bitcoin have witnessed great gains in the past year, values have also fluctuated dramatically in short order. Whether Bitcoin and other virtual currencies can retain their value over time is yet to be seen, but new IRS requirements entail increased disclosures. CPAs are likely to field complex questions from individual investors, and they should advise caution and be wary of providing investment advice in this risky field.
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