I believe that is where we’re at with cryptocurrency’s current marketplace. We closed the first Bitcoin and Ethereum case for $5 million and helped the client defer around $1.5M in capital gains tax. Now we’re getting a wave of individuals who are finding us. You might be finding us right now.
Watch the episode here:
Listen to the podcast here:
Selling Bitcoin, Ethereum Capital Gains Tax-Deferred Using the Deferred Sales Trust
Brett:
One of the biggest challenges with folks who are selling cryptocurrency is they want to be able to diversify, they want to be able to time the real estate market and or even the crypto market, they want to be able to have some liquidity, some cash flow, and so part of this vision is taking helping our clients who are in cryptocurrency, buy an investment, real estate, all tax-deferred, using the Deferred Sales Trust, also invest with Jake Mellor as the financial advisor to in a diversified investment grade security or start a business. Whatever the outcome that you want to do. Why is it that you’re investing with any type of asset? What if you could sell high, diversify, and buy back in whenever you’d like to? This is what we’ve already done and we’re doing, we’ve already proven it. In fact, there’s a story I wanted to reach to you guys and I’m inspired by it because I was telling Rebecca about this book. It’s by this gentleman named Russell Brunson. It’s called Expert Secrets. You haven’t read it, and you think and you want to level up your consulting and sales and teaching ability. This is, I believe, probably the best book I’ve ever actually read on this. I’m just gonna read the opening part of this chapter here, and this will give us some basis for what we’re talking about here.
All right, so here we go. It says for generations, people believed it was impossible to run the mile in under four minutes. They believe the human body wasn’t capable of going that fast, and that it would collapse under the pressure. Some doctors and scientists say that it wasn’t just hard or dangerous, but physically impossible. No one could run a mile in under four minutes. Then, on a cold rainy day, May 6, 1954, six men entered a race held at the Iffley Road Track and Oxford, England. One of these men was Roger Bannister as he crossed the finish line that day, he did something that was thought to be impossible over the last few years when the announcement came. Ladies and gentlemen, here’s the result of event nine. In the one mile subject to ratification will be a new world record, the time was three. The announcement was drowned out by the crowd when they realized it was under four minutes, Bannister had finished the race in three minutes, 59 seconds. He had done what so many people believe was impossible, he broke the four-minute mile. This is after that record was broken. It was held up for only 46 days before it was broken by John Landy, once people saw it was possible, it created belief and others that they could do it too. Since that time, more than 1400 runners have broken the four-minute mile. What I love about this story is that for decades, maybe hundreds of years, maybe 1000s of years. No one believed that the four-minute mile could be broken, and then within 45 days, literally another handful of men broke it. Now 1400 more people have broken it since 1954.
I believe that is where we’re at with this cryptocurrency’s current marketplace. We closed the first one $5 million of Bitcoin and Ethereum. Mostly Ethereum, and now we’re getting a wave of individuals who are finding us. You might be finding us right now. Jake Mellor and I have another client who has Bitcoin. Strictly Bitcoin by the way. That will be another multimillion-dollar Bitcoin case, as well as multiple other clients and we believe in the next 45 days. This has opened up a kind of a floodgate of folks who want to capture these values, and like Roger Bannister, we’ve broken the impossible we believe, which is deferring capital gains tax in a way that’s very elegant.
Join Our Crypto Capital Gains Tax Mastermind
Create a clear Deferred Sales Trust exit and wealth plan for your sale at the Capital Gains Tax Solutions Mastermind Livestream
Every Friday at 10 am PST/ 1 pm EST
Register for free CLICK HERE
Want to learn more? Check Out The Blogs Below!
- Can a Deferred Sales Trust Be Used for Mergers and Acquisitions?
- How to Defer Capital Gains Tax When Selling Your Cryptocurrencies
- Need An Exit Strategy? The Deferred Sales Trust Might Be the Answer
