system
A chat on subreddit /r/PoliticalCompassMemes
human
You can get a loan on it because someone is willing to take a chance on it maintaining that value, just because they take that chance doesn't make it a realized gain.
gpt
Isn't that the same thing for the wedding ring?

Some pawnbroker would just assume that the value of diamonds and gold doesn't drop. But he will still pay you now, only for him to receive the ring 20 years from now? And then it gets taxed.

And those loans vary. They might be expressed in clear dollar amounts rather then stock units. It JP Morgan assumes that Amazon will be around in 20 years, and they ask for the loan to be paid back in stock based on a dollar amount with a 5% interest, they will make quite a cha Ching noise in 20 years. Because Amazon isn't going away. And even if Amazon was absorbed by Walmart, these deals most likely have clauses that will protect the bank in all such cases, except bankruptcy.

So no. Once you can use that stock for a positive purpose, such as leverage against a loan. It is a realized gain.