Works for me. We enjoy the same benefits high capital enjoys when investing on crypto. Saves lots on paperwork and taxes. Plus, now I can save my wealth from being stolen by the govt when it decides to print it's way into our 6th currency.
I'm not sure what country you're in, but in the US at least, BTC is taxable. The fact it's somewhat simpler to hide from the IRS doesn't mean you're safe when they audit you and ask about the movement of cash to / from exchanges.
You also aren't hiding anything from the IRS considering every crypto exchange is reporting all your transactions to them.