“It has turned out that many people have made a lot of money with them,” says Aki Savolainen of the Tax Administration.
The taxman according to many Finns reported cryptocurrency profits of over a million euros last year.
The number of people who reported income of over one million euros increased in Finland in 2021. According to the tax authorities, there were 1,632 Finns who earned at least one million. A year earlier, there were 1,101 of them.
According to statistics published by the Tax Administration, Finns received 8.1 billion euros in capital gains in 2021. 1,318 Finns reported winnings over a million euros.
In practice, capital gain means profit from the sale of assets. A profit is made when the price received from the sale is higher than the purchase price.
Shares capital gains from the sale of publicly listed securities such as
“Our statistics do not show what proportion of those have come from cryptocurrencies, but when the numbers have been looked at more closely, it has become clear that many people have made a lot of money with them,” says the product owner responsible for the statistics of the Tax Administration Aki Savolainen for HS.
“Many have made more than a million with cryptocurrencies [euron] revenue.”
Savolainen says that, at least for the time being, they do not have more detailed information on the number of Finnish crypto millionaires.
In 2021, the cryptocurrency market was at its peak. At its peak, the combined value of cryptocurrencies was almost 3,000 billion dollars. Now the market value is only about 850 billion dollars.
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