The price of Bitcoin, the world’s largest cryptocurrency, has surpassed $1,000,000 for the first time. Today, i.e. December 5, Bitcoin rose by over 7% to reach an all-time high of $102,585 (Rs 86.91 lakh). After Donald Trump’s election victory in the United States last month, Bitcoin is seeing a continued rise.
The price of Bitcoin increased by 118% in 1 year Over the past year, the price of Bitcoin has seen an increase of 118%. A year ago i.e. on December 6, 2023, it was at $43,494 (Rs 36.85 lakh), which has now reached $102,585 (Rs 86.91 lakh). According to experts, we could also see a rise in the price of Bitcoin in the coming days.
Now 30% tax on income from cryptocurrencies In India, a 30% tax will have to be paid on income from cryptocurrency. Apart from this, 1% TDS will also be imposed on transactions using cryptocurrency. At the same time, even if someone offers cryptocurrency, a 30% tax must be paid.
What is cryptocurrency? Cryptocurrency is a means of online payment. It is used to pay for goods and services. Cryptocurrency is a network-based digital currency. Any company or individual can issue it in the form of a token. These tokens are used only to purchase goods and services from the issuing company.
It cannot be controlled like the currency of a single country. Its entire operation is online, so it continues to fluctuate. The world’s first cryptocurrency Bitcoin was launched as open source software in 2009. The group that created it is called Satoshi Nakamoto.