Probably not according to the Federal Reserve.
What a relief. The Fed still thinks it’s OK for us to – gasp – carry money in our wallets. Whew. At least we haven’t crossed that rubicon yet.
Now if you own Bitcoin, well, they might as well just throw you into the slammer. You’ve GOT to be up to something. There is no way the IRS can follow that stuff.
Most of this cash use is impossible to track. That’s one of cash’s virtues for those hiding from the police, the IRS, marketers, and data miners, and in the U.S., many assume these $100 bills are mostly used by criminals or tax evaders. Some, such as Harvard University economist Kenneth Rogoff, have suggested that the $100 bill be taken out of circulation.