Bitcoin Replacing Offshore Banking

Too Long; Didn't Read

For decades wealthy individuals, corporations, and institutions have had the luxury of hiding their vast sums of wealth in tax havens to avoid high tax rates, particularly in Switzerland. Since bank secrecy laws were enshrined in Switzerland’s constitution in 1934, <strong>Switzerland has become home to one-third of the world’s overall hidden wealth</strong>. However, on December 31, 2017, that ability to dodge the tax man will no longer exist. <strong>Why?</strong> The global community has forced Switzerland to participate in the Automatic Exchange of Information Program by the Organization of Economic Corporation &amp; Development (OECD), which aims to ensure that offshore accounts are known to the appropriate authorities. Switzerland’s participation in this program, starting in 2018, is heralded as a major breakthrough to end tax avoidance, as <strong>TRILLIONS of dollars will now be known to the rest of the countries participating in the program</strong>. This will create a huge gap and demand in the market as Swiss bank account holders <strong>scramble to find a way to safely, effectively, and secretly store value</strong>. It is because of these three elements and the other elements I have highlighted below that, as of today, <strong>Bitcoin is the BEST alternative store of value</strong> one can ask for.