FIRT
First Banctrust Corp
stock OTC

Read this carefully; this is basically all you need to know.
When you buy BTC and hold long term, and keep adding over time, you pay tax only when you SELL. Now, if you are selling a portion of it as opposed to the whole amount you hold, the CRA will calculate your FIRT purchase, not the last one. Example:
You buy 1 BTC in 2025 (value of 150k, for example), you hold and keep buying every week 0.01 BTC. Some of these newer purchases would hypothetically be at a higher price, some at a lower price, but the price keeps going up. After 5 years, you have 2 BTC, the last purchase was 0.01 BTC for 3500 CAD (at the price of 350k per coin). You decide to sell 1BTC as you need the money for a down payment for a condo, the CRA will tax you based on your oldest purchase, which was at 150k, which means you made 200k on that 1 BTC. The CRA taxes 50% of that, which means you pay tax on 100k... This would be added to your income for that year and taxed accordingly. Considering the amount of money you made, this will probably push you into a higher income bracket, which means you'll pay quite a bit of tax... probably around 40k.

Next time you sell BTC, they will look at what your next purchase was. Let's say that the 0.1 BTC you bought next was for 1530 CAD (153k per coin), they'll take that value and tax the difference. Basically, they will take each purchase you made and tax it according to the date of purchase, the value of the coin at that time, and tax the appreciated value. You need to track all purchases, even exchanges for other coins, and make sure when you file your taxes, to put in exact amounts and averages of value. I have an Excel file tracking everything.

Read this carefully; this is basically all you need to know.
When you buy BTC and hold long term, and keep adding over time, you pay tax only when you SELL. Now, if you are selling a portion of it as opposed to the whole amount you hold, the CRA will calculate your FIRT purchase, not the last one. Example:
You buy 1 BTC in 2025 (value of 150k, for example), you hold and keep buying every week 0.01 BTC. Some of these newer purchases would hypothetically be at a higher price, some at a lower price, but the price keeps going up. After 5 years, you have 2 BTC, the last purchase was 0.01 BTC for 3500 CAD (at the price of 350k per coin). You decide to sell 1BTC as you need the money for a down payment for a condo, the CRA will tax you based on your oldest purchase, which was at 150k, which means you made 200k on that 1 BTC. The CRA taxes 50% of that, which means you pay tax on 100k... This would be added to your income for that year and taxed accordingly. Considering the amount of money you made, this will probably push you into a higher income bracket, which means you'll pay quite a bit of tax... probably around 40k.

Next time you sell BTC, they will look at what your next purchase was. Let's say that the 0.1 BTC you bought next was for 1530 CAD (153k per coin), they'll take that value and tax the difference. Basically, they will take each purchase you made and tax it according to the date of purchase, the value of the coin at that time, and tax the appreciated value. You need to track all purchases, even exchanges for other coins, and make sure when you file your taxes, to put in exact amounts and averages of value. I have an Excel file tracking everything.