Crypto millionaires are fulfilling their dream of a new place where tax-free living is possible. In the near future, a new community called 'Cryptoland' will be established on Crypto Island.
Initial steps have been taken on behalf of Cryptoland, which is intended for investors to avoid paying taxes on their cryptocurrencies. It is expected that the Cryptoland island, where investors can both hodl without paying taxes and continue their mining operations, will be established very soon.
The unlisted video of this new venture, which also interests many crypto investors, was recently leaked.
There are small and beautiful references that can be noticed by investors who watch the video in detail. Investors liked that their toilets were named "Shitcoin" and their toilet paper was named "Wipe Paper".
On the other hand, the map of the island is given with the image below. The experts of the project state that it would be almost impossible to describe Cryptoland with a monotonous pdf file, so they animate the colorful world of the island with references.
The biggest feature of Cryptoland island is that it is tax-free and decentralized. Its launch with the slogan “Cryptoland is the only place that countries cannot control” continues to increase the excitement for the anticipated island.
Critical warnings from Bank of America strategists to crypto investors!
According to Bank of America strategists, including Michael Hartnett, cryptocurrencies, palladium and long-term tech stocks began to explode simultaneously.
Bank of America strategists state that the US Federal Reserve's preparations to increase the pace of policy tightening distract investors from speculative instruments.
After the Fed minutes were announced, there was a decline in global financial markets. The inclusion of more institutional players in the crypto ecosystem causes the crypto market to be affected by these declines.
According to the report, the decrease in liquidity will cause both the equity risk premium and interest rates to rise, which will continue to disproportionately affect the riskiest assets in the market, including money-losing tech stocks, meme stocks, and particularly momentum-driven investments.
After the Fed's statements, tech-focused stocks fell sharply. Ark Investment Management's flagship Innovation ETF has lost nearly 46% from its record high in February 2021. The hawk signal from the Fed also hit many big technology stocks, especially Tesla and Rocu.