[unnouinceput]

What taxes to pay in the first place off to? If he didn't sold them bitcoins he didn't make any money. Are you saying you should prosecute for taxes people who hold Picasso paintings because this year Picasso went up 10 times more than previous year, even if they don't sell it?

Remember, bitcoin is art, not money. Or is the same money just like art is.

[bradlys]

He's cashed some out. "and has held most of it"

[unnouinceput]

"some" is the key word here. If he cashed "some" only to buy himself a house, I am pretty sure he doesn't need to pay taxes on that, except maybe the notarial taxes inherent to the transaction itself.