If this amount is recognized as a taxable return, this results in a tax burden of around 10,800 euros – with a tax rate of around 36%. And that even though no sale took place.
The timing is now crucial: The tax is not due immediately, but only with the tax assessment. So typically in the following year, around spring like April or May. For example, if the Bitcoin price falls back to 75,000 or 60,000 euros between the valuation date and the payment date, the tax claim for the previous year still remains.
This means specifically:
The tax is based on the high on the reporting date – but may be paid at a time when the market is significantly lower. In order to pay the tax, the investor might then have to sell Bitcoin – at a significantly lower price.
In highly volatile markets such as Bitcoin, the taxation of unrealized profits can result in market movements creating real liquidity constraints at different times. A disaster for all affected BTC holders.
For Bitcoiners, the topic is so explosive because it hits the asymmetrical reality of volatility: profits can quickly be “taxed before they are real,” while losses are systematic, but do not automatically ensure liquidity in terms of timing and mechanics.
That’s exactly why the reform is perceived so negatively in the scene.
date: 2026-02-13 03:27:00
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