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Early-Era US Bitcoin Investor Sentenced to Two Years in Prison for Underreporting Gains From BTC Sales

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An ancient Bitcoin investor is going to spend the next two years in prison after underreporting his BTC gains, according to the U.S. Department of Justice (DOJ).

In a new press release, the DOJ says that Frank Richard Ahlgren III of Austin, Texas failed to accurately report the capital gains he earned after selling $3.7 million in Bitcoin.

He was sentenced Thursday to two years in prison for filing false tax returns.

The DOJ says that taxpayers are required to report any gains or losses from the sale of cryptocurrencies like Bitcoin.

Says Stuart Goldberg, the Acting Deputy Assistant Attorney General of the DOJ’s Tax Division,

“Frank Ahlgren III earned millions buying and selling Bitcoins. But instead of paying the taxes he knew were due, he lied to his accountant about the extent of a large portion of his gains, and sought to conceal another chunk of his profits through sophisticated techniques designed to obscure his transactions on the Bitcoin blockchain. That conduct today earned him a two-year sentence.”

Ahlgren made his first purchase of Bitcoin in 2011 and in 2015, he acquired about 1,366 BTC using top US crypto exchange Coinbase.

In October 2017, he sold about 640 BTC, each worth about $5,807 at the time, for a total of $3.7 million. He used most of the funds to buy a home in Park City, Utah.

But when he filed his 2017 tax return, he told his accountant he purchased the Bitcoin at a much higher price than he did, pretending his gains were less. He also sold BTC in 2018 and 2019 for over $650,000 but failed to report the sales.

According to the DOJ, Ahlgren’s false filings helped him avoid having to pay more than $1 million in taxes. In addition to his two-year prison term, Ahlgren is ordered to serve one year of supervised release and pay $1,095,031 in restitution to the United States.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Bitcoin Is About To Begin Outperforming Gold, Says InvestAnswers – Here’s His Timeline

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A widely followed crypto analyst and trader is forecasting that Bitcoin (BTC) will start outperforming gold.

In a new video update, the host of InvestAnswers tells his 565,000 YouTube subscribers that the top crypto asset by market cap should outpace gold over the coming months, as he says the precious metal looks overextended following its parabolic rally to $3,500.

“If you look at the steady correlation between Bitcoin and Nasdaq, it is extremely tight because Bitcoin is considered a risk asset, [while] gold is considered a risk-off asset. But here, if you look at the Bitcoin/gold correlation, it fluctuates very heavily. Half the time, not correlated; half the time, it is correlated.

So there’s no signal of direct correlation and Bitcoin has already had a great post-halving, and in fact, we had hit a new all-time high before the halving, which has never happened before with Bitcoin. But its correlation with gold remains low.

Now, if I look at this chart and just like a caveman would, what do I interpret? I expect the correlation to increase with gold as the broader dynamics of the market will shift as well. I also believe gold is overbought, so I see gold mean-reverting and I see Bitcoin going up versus gold over the next six months.”

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Source: The Rational Root/X

InvestAnswers says a summarized interpretation of his analysis would be that the flagship digital asset is lagging behind gold and will start to outpace the precious metal during the next six months.

BTC is trading for $93,870 at time of writing, a fractional decrease during the last 24 hours while gold is valued at $3,283 per ounce, a marginal decrease on the day.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Here’s How Bitcoin Could Boost Demand for US Treasuries, According to Macro Guru Luke Gromen

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Veteran macro investor Luke Gromen says he likes Bitcoin (BTC) due to its potential to influence demand for US Treasuries.

In a new video update, the founder of the macroeconomic research firm Forest for the Trees (FFTT) says the Trump administration is in a position to boost demand for US bonds after the president signed an executive order creating a Strategic Bitcoin Reserve.

A Bitcoin bull market typically increases demand for dollar-pegged crypto assets, and according to Gromen, could ultimately drive demand for US Treasuries.

“Note that the Trump administration is still talking about putting T-bills (Treasury bills) into stablecoins, using stablecoins as a means to drive demand for T-bills. And obviously, they’ve talked about the Strategic Bitcoin Reserve.

Left unsaid in all of that is that the higher the Bitcoin price, the more stablecoin demand, the more T-bill demand there is…

I think the underlying theme of [the] US government desperately needs balance sheet and stablecoins and therefore Bitcoin can help the US government find balance sheet. I think that is absolutely still in play.

It’s one of the reasons why we still like Bitcoin over the intermediate longer term.”

Stablecoin issuers such as Tether and Circle predominantly rely on Treasury bills to back their coins on a 1:1 basis. As of December 2024, Tether has invested over $94.47 billion in T-bills to back USDT. Meanwhile, Circle owns $22.047 billion worth of T-bills as of February of this year to back USDC.

Additionally, two stablecoin bills that are progressing through Congress, the STABLE Act of 2025 and the GENIUS Act of 2025, require issuers to invest in T-bills and other real-world assets to back their coins.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Monero’s XMR Rockets 40% as XRP Leads Crypto Majors Gains

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Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.

Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA.

He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.





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