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Spending bitcoin down the line - avoiding CGT?

Bitcoin Reddit

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A few posts lately have made me wonder about this.

Let's say, theoretically, I own one bitcoin which I bought 7 years ago for $1000. This sits in cold storage until needed.

Let us then fast forward to 2034 and imagine I use that bitcoin to buy a house. Presuming, obviously, that by then you can purchase a house with bitcoin and bitcoin has continued as foretold.

Would the purchasing of the house be classed as a taxable event on the increased value of the bitcoin? How is the taxman getting involved here?

submitted by /u/GlisteningMeatpole
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