Cryptocurrencies
Bitcoin’s Latest Plunge Highlights the Dangers of a Crypto Salary
Politicians and celebrities are increasingly getting paid in the digital asset. Its drop — as well as tax complications — may steal some sheen from the trend.
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When was the last time your entire paycheck shrank by more than 20%?
If you are being paid in Bitcoin, the answer was Saturday, when the token fell as much as 21% in a matter of hours. While it has recovered ground, Bitcoin is still down more than 25% from the record high it reached about a month ago. That rapid plunge highlights just one peril of a nascent trend that’s being hyped up by politicians and celebrities — being paid in digital currencies.