{"id":455161,"date":"2021-01-25T12:08:26","date_gmt":"2021-01-25T12:08:26","guid":{"rendered":"https:\/\/ktsl888.com\/?p=455161"},"modified":"2024-06-11T14:12:56","modified_gmt":"2024-06-11T14:12:56","slug":"microstrategy-boss-no-one-can-take-your-bitcoin-not-even-the-taxman","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/microstrategy-boss-no-one-can-take-your-bitcoin-not-even-the-taxman\/","title":{"rendered":"MicroStrategy Boss: No-One Can Take Your Bitcoin, Not Even The Taxman"},"content":{"rendered":"
MicroStrategy CEO Michael Saylor is singing the praises of Bitcoin once more. This time, Saylor talks approvingly of its convenience, as well as its capacity to keep all parties honest.<\/p>\n
But above all, in a recent interview<\/a>, he said no-one can take it from you. Not even the taxman.<\/p>\n “You can tell everyone to go f*ck themselves. You can put it in your head, memorize the frickin key, right, and it’s here. And then, the classic Bitcoiner response is, oh, yeah my Bitcoin, I lost it in a boating accident…”<\/p><\/blockquote>\n In recent weeks, the issue of tougher regulation, and more specifically taxation of cryptocurrency, has reared its head. While most people accept taxation as a necessary cost of living within a civilized society, the point in question is, how much is enough?<\/p>\n This is especially relevant considering proposals from the Biden administration, which could see the tax burden of cryptocurrency investors increased. They are considering an all-encompassing wealth tax, as well as a tax on unrealized capital gains.<\/p>\n Professionals claim current guidance on cryptocurrency tax rules is confusing at the best of times. What’s more, the matter is compounded by a whole host of innovations such as chain-splits, airdrops, token swaps, and staking, which require tax authorities to rethink<\/a> their rulings.<\/p>\n When combined with more tax proposals, the prospect of investing in Bitcoin and cryptocurrency is much less appealing.<\/p>\n With this in mind, the MicroStrategy CEO courted controversy by saying if his tax burden were too much, he would say he lost his Bitcoin.<\/p>\n “At the end of the day, if you push me too far, I lost it, it’s gone, sorry. Tax that.”<\/p><\/blockquote>\n More than likely, Saylor’s comments were made to push the envelope in illustrating the irrelevance of tax and regulation against the bigger picture of Bitcoin’s investment potential.<\/p>\n When asked about regulatory clampdowns on Bitcoin, Saylor<\/a> passed it off as FUD. And more importantly, FUD that’s based on things that haven’t happened yet, and may not happen at all.<\/p>\n “Over the next decade, the most logical challenge for people in the Bitcoin community is regulatory FUD. You’ll just see fear, uncertainty and doubt about, what if a regulator does something that’s bad. I don’t know what it is, but what if they do it.”<\/p><\/blockquote>\n His underlying message was that as a superior store of value<\/a>, Bitcoin will still appreciate regardless of how regulators and tax authorities treat it.<\/p>\n “If Bitcoin is [a] better store of value than bonds, stocks, real estate, gold, silver, and derivatives, and every flavor of cash, then there’s no reason why it shouldn’t absorb $100 trillion of monetary energy, regardless of, what if you apply all the regulations to it…”<\/p><\/blockquote>\nTax Proposals Make Cryptocurrency Less Appealing<\/h2>\n
Saylor Claims Despite Threat of Regulation and Taxation, Bitcoin is Still The Superior Investment Strategy<\/h2>\n