An individual person holds Bitcoin for over a year with a certain Bitcoin exchange. When they sell it after holding it for over a year they will get a CGT discount of 50%. What happens if that person buys more Bitcoin with the same Bitcoin exchange and also holds it, but ends up selling both the "old" held Bitcoin and "newly" bought Bitcoin at the same time? Only the "old" Bitcoin has been held over a year. Eg. 1st Jan 2020 Bob buys one BTC at a price of $10k. 1st July 2020 Bob buys another one BTC at a price of $20k. 2nd Jan 2021 Bob sells both (2) BTC at the same time for a price of $40k each.
They've all been sold, so choice doesn't really matter here if calculating CGT. Ist BTC gain is 30K less 50% = 15K 2nd BTC gain is $20K Total CGT gain $35K