Only $57,000 of the $11 billion in income taxes was paid through cryptocurrency since 2022. This represents a mere 0.0005% of total tax collected.
The initiative to accept crypto tax payments was launched by Colorado’s Governor Jared Polis in September 2022, aiming for modernizing tax payment methods.
Despite a peak payment rise in 2023, crypto payments in Colorado decreased in 2024. Bitcoin is primarily seen as a store of value, not a spending medium.
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