IRS Investigation Reveals Where Bitcoin Believers are Concentrated in the US
The IRS has revealed the findings of its investigation into the use of virtual currency in 2020 tax returns, allowing for the identification of areas with high levels of cryptocurrency ownership. California has the highest number of areas with a high percentage of bitcoin owners, but Washington tops the list when ranked by state. The government's crackdown on digital assets has resulted in taxpayers being required to disclose any crypto transactions on their tax returns. Crypto adoption is highest among younger populations and those in software-heavy areas, with residential areas near tech firms or wealthy neighborhoods having a high density of digital asset ownership.
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