1. On September 21, 2015, Marcel purchased one (1) Bitcoin for $230.30 to hold as an investment. On April 16, 2021, when Marcel's one Bitcoin was worth $61,572.79, Marcel exchanged his Bitcoin for 198.23 Litecoin ($310.61 per Litecoin). On May 10, 2021, Marcel realized Litecoin was not a solid investment, so Marcel exchanged his 198.23 Litecoin ($359.33 per Litecoin) for 1.275 Bitcoin ($55,859.80 per Bitcoin). Marcel still owns the 1.275 Bitcoin, which, as of August 15, 2021, closed at $47,047.00 per Bitcoin. What are the tax consequences of these transactions? Show your calculations and explain your answer in words.