A superlative executive from a prominent Australian taxpayer group has publicly endorsed the world'southward biggest cryptocurrency past announcing her first always Bitcoin purchase.

Emilie Dye, director of policy at the Australian Taxpayers' Alliance, or ATA, tweeted on April 1 that she had bought her showtime Bitcoin: "Today, I made my offset Bitcoin purchase. Wahoo!" This triggered excitement in the crypto customs, with the tweet amassing most 5,900 likes equally of press time.

Dye clearly didn't look the excitement and after elaborated:

"I couldn't have asked for a warmer welcome to the Bitcoin fold. If anything, the number of comments and likes shows thousands are invested in Bitcoin and confidence is high. Feeling fifty-fifty more secure in my investment, if that is possible. Thank you all!"

Buying offset Bitcoin is not that easy

Talking to Cointelegaph, Dye revealed that she has been aware of Bitcoin for many years but only began closely following the industry in the last few months. The executive admitted that buying the first Bitcoin "wasn't the most straightforward process," adding that she received solid advice from industry insiders. Dye added that she "would not recommend anyone invest in bitcoin blindly" without thorough research start.

"I saw the buy as a flight to safety"

The ADA policy managing director also admitted that the ongoing economic turmoil has impacted her decision to invest in crypto. Noting that people tend to invest in gold and other precious metals during a recession due their limited supply, Dye expressed confidence that Bitcoin is a digital gold.

Dye said:

"The economical downturn and the corresponding dip in the value of bitcoin prompted me to action. I like to buy things when they are on sale. I also saw the purchase  as a "flying to safety." [...] Rather than trusting in the excessive spending of politicians to uphold the value of the Australian dollar, I decided to put my coin into a decentralised currency."

Amid the Australian government considering to ban greenbacks transactions over $10,000, Dye also outlined the privacy and independence of cryptocurrencies. She noted:

"While few people brand $10,000 cash transactions, the limit is not tied to aggrandizement so will slowly strangle 1 of the banking system'south largest competitors: cash. People deserve an alternative to banks and credit bill of fare companies; without cash, cryptos are that competitor."

BTC revenue enhancement situation in Australia

The ATA is a major activist and advancement organization in Australia. They are committed to promoting the rights of local taxpayers, and frequently oppose over-regulation and overtaxation. Cointelegraph reached out to Dye with boosted queries and volition update if we hear back.

The ATA's latest move towards crypto comes amid extreme global and local economic turmoil. Yesterday, Australia's major stock market index, ASX 200, dropped nearly ii% every bit shares of the country'southward major banks, such as Commonwealth Bank of Commonwealth of australia and Westpac, sold off.

According to Australia's official guidance framework on crypto tax, cryptocurrencies similar Bitcoin are subject to uppercase gains taxes as a form of property. In a March 12 interview with Cointelegraph, the Australia Revenue enhancement Function said that they had launched a major entrada to prompt as many as 350,000 crypto investors to comply with their revenue enhancement obligations.

Update 12:00 UTC: This article was updated to add additional data provided by the ATA executive Emilie Dye.