Co-founder of Dogecoin has sold some of his Ethers at low price, making “negative money”
Billy Markus, who created the original meme coin DOGE in collaboration with Jackson Palmer in 2013, has taken to Twitter to comment on current crypto prices and having to pay taxes on crypto and NFTs.
He sold “a bunch of ETH” in late December before the price jumped about 20%.
Selling ETH to pay 2022 taxes for selling NFTs
Markus stated that he had to sell some of this Ethereum while it was trading at the $1,190 level to pay taxes he owed for last year. Ethereum was changing hands that low on Dec. 20. Three days prior to that, the price was moving in the $1,170 range, and then on Dec. 20 it went up, reaching $1,210 and then climbing to $1,220.
Thus, the Dogecoin co-founder had to sell his crypto a bit too early. “Everyone, you’re welcome to this rally,” he added with dark irony.
i sold a bunch of eth at $1190 so i could pay 2022 taxes
so everyone, you’re welcome for this rally 🤣
— Shibetoshi Nakamoto (@BillyM2k) January 12, 2023
In the comment thread, Markus voiced that he had to use the fiat-converted ETH to pay taxes for selling some NFTs earlier that year. According to his explanation, the state of California and U.S. IRS charge a seller “53 percent of the selling price at the exact moment of sale.”
As reported by U.Today, at the very start of…
