#michaelsaylor — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #michaelsaylor, aggregated by home.social.
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the giant pot of bitcoins bought with leverage and the money of retail suckers that masquerades as a company known as #MicroStrategy (#MSTR) has a massive tax problem and has run to the IRS for help. They teamed up with #Coinbase and wrote a 76 page Very Angry Letter about how they cannot possibly be expected to follow the tax code as written.
(tl;dr the value of their bitcoins went up and they don't want to pay taxes on them despite taking an absolutely *massive* tax impairment a year or two ago when their bitcoins had gone down)
For bonus points consider that the CEO of MicroStrategy #MichaelSaylor was personally busted for massive tax fraud and had to pay a $51 million fine just a few months ago.
* WSJ: https://www.wsj.com/finance/currencies/microstrategy-federal-income-tax-unrealized-gains-f60b2c04
* no paywall: https://archive.ph/U4LQC
* 76 page letter: https://legacy.www.documentcloud.org/documents/25504499-coinbase-and-microstrategy-letter-to-the-irs-2024-0046-0028_attachment_1#IRS #taxes #crypto #cryptocurrency #MichaelSaylor #uspol #taxcode #tax #finance #economics #stockmarket #bitcoin #btc #corruption